Summary
- The Clarity Act failed a procedural Senate vote by a 49-50 margin, but it still has a chance to be brought back for another vote during the current session.
- Republican Senator Thom Tillis filed a motion to reconsider, leaving room under Senate procedure for another vote on the same measure.
- Progress in negotiations over the ethics provision limiting conflicts of interest tied to public officials' crypto holdings will be the key factor in whether the Clarity Act gets another vote.
Forecast Trend Report by Period
The Clarity Act, a US crypto market structure bill, failed a procedural vote in the Senate by a 49-50 margin, but another vote remains possible during the current session.
Cointelegraph reported on September 17 that Republican Senator Thom Tillis filed a motion to reconsider immediately after the September 15 vote. Tillis voted against the measure in order to preserve a procedural path for the Senate to vote again on the same matter.
Seven Democratic senators who opposed advancing the bill have also indicated they want to keep pursuing crypto market structure legislation. But disagreements over an ethics provision to limit conflicts of interest related to public officials' crypto holdings remain a central sticking point.
The Senate is scheduled to recess in early October, leaving limited time to reach a deal this year. Progress in talks over the ethics provision will be the key factor in whether the Clarity Act returns for another vote.
JH Kim
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