Senate Democrats Keep Opposition to CLARITY Act Vote Without Deal on Ethics, AML
Forecast Trend Report by Period
Senate Democrats are maintaining that a procedural vote on the CLARITY Act is unlikely to pass unless disputes over ethics rules, anti-money laundering provisions and stablecoin interest payments are resolved.
Brendan Pedersen of Punchbowl News wrote on X on August 4 that Senate Democrats broadly agree this week's cloture vote on the CLARITY Act would fail without progress on ethics provisions, illicit finance and stablecoin yield.
Cloture is the procedure to end debate before full consideration of a bill and typically requires at least 60 votes to pass.
Pedersen added that Democrats are not prepared to change their position at this stage based solely on political donations from the digital-asset industry.
The CLARITY Act would establish a regulatory framework for the US digital-asset market. Negotiations between Republicans and Democrats are continuing over ethics provisions, anti-money laundering rules related to decentralized finance, and stablecoin reward programs.
