The White House is reviewing bipartisan ethics language for the crypto Clarity Act just days before the Senate's five-week recess. Senate Majority Leader John Thune has yet to file cloture on the bill, and Senator Thom Tillis says the odds of a vote now hinge on whether the Senate delays its scheduled Thursday departure.
The White House is reviewing ethics language that bipartisan senators sent over last week for the crypto market structure bill known as the Clarity Act, according to Senator Thom Tillis. Time is short: the Senate is scheduled to leave Washington for a five-week break as soon as Thursday or Friday.
Cloture still not filed
Senate Majority Leader John Thune declined to file cloture on the bill Wednesday afternoon, according to Punchbowl News, leaving negotiators only a narrow window to reach something resembling consensus. Thune had earlier told reporters he still hoped for a vote before the break, and Republican and Democratic staff reportedly held a flurry of meetings over the prior 24 hours trying to close out remaining disagreements.
Tillis, who has been negotiating ethics language with Democrats, said the vote's chances hinge on whether the Senate stays past its scheduled Thursday departure. If lawmakers leave on schedule, he said a vote would be "a moonshot at this point", but added there's still a chance if the Senate is delayed into next week.
Republicans blame Democrats for the delay
Senator Cynthia Lummis has said Democrats are deliberately holding back the bill. Despite that friction, South Carolina Republican Darline Graham posted on social media in support of swift passage, framing the Clarity Act as central to President Trump's push to keep digital-asset innovation in the United States.
Graham added that the Senate needs to deliver a bill that protects consumers, arms law enforcement, and gives the industry regulatory certainty. She said she stands ready to back Senate Banking Chairman Tim Scott, Lummis, and the president in getting the legislation across the finish line.
If cloture is filed Thursday, a floor vote could still come as soon as this weekend — though a delay into next week may be the bill's best remaining shot at passage before recess.
Source: Bitcoin Magazine
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