Senate votes on Clarity Act for crypto on 15 September

The US Senate is taking a first formal step towards new crypto legislation. Majority Leader John Thune has filed a cloture motion on the Clarity Act, setting a vote in motion for 15 September. For now, this concerns a procedural threshold, not final approval of the bill.

In short:

• Thune has filed a cloture motion on the Clarity Act, a bill designed to give structure to crypto markets.
• The vote is scheduled for 15 September at 2:15 pm ET, after the Senate returns from recess.
• The motion requires 60 votes, meaning at least seven Democrats or independents must vote in favour if all Republicans support it.

What is a cloture motion?

A cloture motion limits further discussion on the progress of a bill. In this case, it concerns a vote to open the debate on the Clarity Act at all. It therefore does not mean the bill is immediately passed or that the substantive debate has already begun.

When the Senate returns from its summer recess on 15 September, the chamber will first vote on the Byrne nomination at 5:30 pm, followed by the cloture vote on the Clarity Act at 2:15 pm ET. That is according to the Senate Daily Press.

Democratic support needed

The Republicans hold 53 seats in the Senate, but a cloture motion requires 60 votes. If all Republicans agree, seven Democrats or independents are still needed to reach the threshold. That makes the outcome uncertain.

According to Wu Blockchain, there are still substantive disagreements within the Senate over ethical provisions in the bill, rules around illicit financing, and how the contribution of the Senate Agriculture Committee should be incorporated. Those outstanding points could complicate Democratic support.

Clarity Act as market structure legislation for crypto

The Clarity Act is a bill designed to provide clarity on how crypto markets are regulated in the United States. The law determines which digital assets are considered commodities or securities, and who oversees them. It has long been one of the most discussed legislative tracks within the US crypto sector.

Thune’s move shows that the Senate wants to continue the legislative process after the recess. Whether the 15 September vote will secure the required majority remains to be seen. Earlier, Trump Media also stepped away from a crypto plan, which shows how volatile the political climate around crypto in the US can be.