Donald Trump · US Senate · CLARITY Act · Republicans · U.S. · Decrypt
Senate Majority Leader John Thune filed the motion to proceed on the bill
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The filing came too late to squeeze in a vote before senators leave for their August recess, but it queues up an initial procedural vote almost immediately after they return, with the first test set for 2:15 p.m.
Key facts
- The filing came too late to squeeze in a vote before senators leave for their August recess, but it queues up an initial procedural vote almost immediately after they return, with the first test set for 2:15 p
- The Clarity Act, if passed into law, would provide a formal legal structure for most cryptocurrency activity in the United States, drawing jurisdictional lines between the SEC and CFTC, and placing
- Senate Majority Leader John Thune filed the motion to proceed on the bill, opening the multi-step cloture process the chamber uses to push contested legislation past its 60-vote threshold
- The cloture filing on the motion to proceed to H.R. 3633 is a procedural first step, not passage, but it signals that Republican leadership intends to make the bill an early priority when the Senate
Summary
The Senate took its first formal step toward voting on the Clarity Act, with Thune filing the motion to proceed early Saturday after an overnight session. Senators would need to reach agreement on several unresolved issues in the bill before now and then for the crypto market to get Clarity. The U.S. Senate has taken its first formal step toward voting on the Clarity Act, with leadership moving early Saturday to tee up a vote on the crypto market-structure bill and lock in a September date. Senate Majority Leader John Thune filed the motion to proceed on the bill, opening the multi-step cloture process the chamber uses to push contested legislation past its 60-vote threshold. The cloture filing on the motion to proceed to H.R. 3633 is a procedural first step, not passage, but it signals that Republican leadership intends to make the bill an early priority when the Senate reconvenes.