Senate tees Tuesday cloture on Clarity Act after Trump accepts revised crypto ethics limits
NEW · Mon. 9:45 a.m. EDT
Senate Majority Leader John Thune has scheduled a cloture vote Tuesday at 2:15 p.m. Eastern on the motion to proceed to H.R. 3633, the Digital Asset Market Clarity Act — a 60-vote procedural step that would open debate, not pass the bill. Over the weekend, Sens. Cynthia Lummis, Tim Scott and John Boozman released what they called a final 635-page draft incorporating 126 Democratic-requested changes, including ethics language reflecting substantially all of a Tillis–Gallego package that President Trump has accepted: covered federal officials and spouses would need to divest significant crypto interests or place them in a blind trust, with a role for state attorneys general in enforcement. The text also adds Treasury circuit-breaker authority if payment stablecoins drive widespread deposit flight from community banks. Republicans hold 53 seats, so at least seven Democrats or independents must join if the GOP conference stays united.
The west front of the U.S. Capitol. File photograph; not from Monday’s Senate negotiations.
Martin Falbisoner / Wikimedia Commons (public domain edit of west-front file)
Center-left view
CNBC, AP/ABC wire coverage, and Sen. Chris Van Hollen’s Sunday statement frame Tuesday’s cloture as still unresolved for Democrats who say ethics language and bank-deposit protections remain inadequate — Van Hollen argued the bill “masquerades” as consumer protection and urged a no vote — while the American Bankers Association and nearly 80 banking groups pressed Thune and Schumer to harden the stablecoin interest/rewards ban before any floor action.
Sources: CNBC · ABC News / AP · Euronews
Center-right view
Lummis, Scott and Boozman’s Monday release, the Washington Examiner’s Sept. 13 procedural write-through, and CryptoSlate’s ethics-concession reporting cast the weekend text as Republicans’ last-best offer after Trump accepted Tillis–Gallego-style limits and more than 120 Democratic edits — Lummis said Democrats “got what they wanted” and that a no vote rejects ethics reforms and U.S. digital-asset leadership, while noting Tuesday only decides whether debate begins.
Sources: Sen. Lummis press release · Washington Examiner · CryptoSlate