PiCK
Senate Republicans Skip CLARITY Act Cloture Filing, Risking Vote Delay This Week
Summary
- Senate Republicans did not file for cloture on the CLARITY Act, raising the possibility that this week's vote could be delayed.
- Democrats and Republicans are continuing negotiations over ethics provisions, the Blockchain Regulatory Certainty Act (BRCA), and whether to allow interest payments on stablecoins.
- Once CR procedures are completed, cloture could be filed as early as Aug. 6, with a procedural vote potentially taking place about 30 hours later.
Forecast Trend Report by Period
A vote this week on the CLARITY Act, a US crypto market-structure bill, could be delayed after Senate Republicans did not file for cloture to bring the measure to the floor.
Eleanor Terrett, host of Crypto in America, said Aug. 5 that Senate Majority Leader John Thune did not file for cloture on the bill. She cited ongoing procedures tied to a continuing resolution, or CR, efforts to secure enough votes for passage, and negotiations over key issues as factors.
Democrats and Republicans are still negotiating ethics provisions, the Blockchain Regulatory Certainty Act, or BRCA, and whether to allow interest payments on stablecoins. The White House has not yet taken an official position on a compromise proposal related to the ethics language.
Thune could still file for cloture as early as Aug. 6 once the CR process is completed. If he does, a procedural vote could follow about 30 hours later.
Terrett said unresolved issues remain, but some senators want to move ahead with a vote to formally put lawmakers on the record regardless of whether the bill ultimately passes.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.