White House Sees CLARITY Act Advancing as Sept. 15 Vote Looms

The White House expressed strong confidence that the CLARITY Act, a U.S. crypto market-structure bill, can advance ahead of its first vote in September.

Patrick Witt, a White House adviser on digital assets, told the SALT conference in Wyoming that he was "genuinely optimistic" and bullish on the CLARITY Act, The Block reported on Aug. 18.

The Senate is in its August recess and will resume legislative business in mid-September. Senate Republican leader John Thune has scheduled a Sept. 15 cloture vote to move the bill to the floor for consideration. The vote would not be on final passage, but 60 votes are needed to formally begin debate.

Witt said he would meet with Democratic lawmakers to narrow differences and secure a decisive outcome in the Sept. 15 vote.

Key disputes remain over the more than 600-page bill. One of the main sticking points is stablecoin rewards. Senator Angela Alsobrooks, a Democrat, and Senator Thom Tillis, a Republican, previously drafted a compromise that would prohibit rewards for simply holding stablecoins while allowing rewards tied to transactions and payments.

That issue has resurfaced in recent days. Senate Banking Committee Chairman Tim Scott said he had thought the stablecoin matter was resolved, but it now must be revisited and will require further negotiations.

Another point of contention is a conflict-of-interest provision related to President Donald Trump's crypto business activities. Democrats are pressing to add stronger ethics rules to the bill, citing the expansion of crypto ventures linked to Trump and his family.

Trump previously agreed to restrictions on public officials and their spouses directly issuing or sponsoring digital assets. Investment in digital assets would still be allowed, and the provision includes a sunset clause that expires in January 2029.

Trump is now reviewing an additional compromise proposal put together by Senator Ruben Gallego, a Democrat, and Tillis. The new draft would also give state attorneys general authority to enforce the related ethics rules.

Senator Cynthia Lummis, a Republican, said she could not predict Trump's final decision. Still, she said he had already agreed to more than any previous president.

Negotiations over stablecoin rewards and presidential conflict-of-interest safeguards now stand as the main variables that will shape the bill's path before the Sept. 15 vote.