U.S. Senate set for key procedural vote on the CLARITY Act

The U.S. Senate is scheduled to hold a key procedural vote on the CLARITY Act at 2:15 p.m. on Sept. 15, according to Crypto in America. The bill needs 60 votes to move forward to formal debate, putting the immediate focus on whether supporters can clear that threshold. The report said Republicans have already made 126 substantive changes to the bill in response to Democratic requests. Those revisions cover ethics provisions, protections for software developers, and a "circuit breaker" mechanism tied to stablecoin deposits. Republicans have described the latest version as the "last, best, and final" text. Even so, Democrats were still pressing a counterproposal on the eve of the vote. Their demands included tighter limits on large crypto holdings, stricter blockchain oversight provisions, and tougher conflict-of-interest rules for exchanges. Patrick Witt, executive director of the White House crypto council, said he felt "good" about the outcome, while also saying the final result would depend more on political maneuvering than on the policy itself. Separately, eight banking trade groups including the American Bankers Association continue to oppose the bill, while the White House Council of Economic Advisers has rolled out a new tool to challenge claims that stablecoins would drain bank deposits.