The US Senate will vote in September on whether to advance a landmark bill that would establish a federal framework for the cryptocurrency industry, after lawmakers failed to reach agreement before the August recess.
Senate Majority Leader John Thune filed a cloture motion on Saturday to begin the process of bringing the CLARITY Act to the Senate floor. The procedural vote is scheduled for September 15 at 12:15 pm ET, giving lawmakers several weeks to resolve remaining disagreements.
The move keeps the bill alive but does not guarantee passage. The legislation still needs 60 votes to advance in the Senate, meaning Republicans will need Democratic support.
Senators had hoped to take up the CLARITY Act before leaving Washington for the August recess. That plan fell apart after lawmakers remained divided over several provisions.
Thune said on August 6 that the Senate would not vote on the bill before the recess. The decision followed negotiations over consumer protections, stablecoins and restrictions on government officials’ involvement in cryptocurrency businesses.
Saturday’s cloture filing puts a new date on the Senate’s calendar and gives lawmakers more time to negotiate.
The September vote will first address whether the Senate should proceed with consideration of the legislation. A successful vote would allow debate and potential amendments before any final vote on passage.
The CLARITY Act is designed to clarify how digital assets are regulated in the United States and divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
The crypto industry has long argued that the absence of clear federal rules has created uncertainty for companies and investors. Supporters of the bill say a defined regulatory framework would give businesses clearer rules and reduce disputes over which agency has jurisdiction.
The bill has also drawn criticism from Democrats and other opponents who want stronger consumer safeguards and tighter rules around conflicts of interest.
Stablecoins have emerged as one of the major sticking points in negotiations. Banks have objected to provisions they say could allow cryptocurrency companies to compete more directly with traditional banks for deposits by offering incentives linked to stablecoin holdings.
The issue has added pressure to negotiations as lawmakers try to build enough bipartisan support for the bill. The crypto industry, meanwhile, has stepped up its lobbying campaign. The Financial Times reported that the industry has spent heavily in Washington as it seeks favorable digital-asset legislation.
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The September 15 vote will be a procedural test rather than a final vote on the CLARITY Act. If the Senate agrees to proceed, lawmakers can begin formal consideration, debate amendments and continue negotiations over disputed provisions. The bill would still need 60 votes to clear the Senate.
The latest move gives the legislation more time, but the core challenge remains: Republican leaders must secure enough Democratic support to move the bill through the Senate. For the crypto industry, the September vote will show whether months of lobbying and negotiations have produced enough bipartisan backing for the most significant federal cryptocurrency legislation to reach this stage.