The Senate is days from recess, and the CLARITY Act still lacks the Democratic support it needs to pass. The bill is close to a Senate floor vote, but still facing challenges. Software engine
The Senate is days from recess, and the CLARITY Act still lacks the Democratic support it needs to pass. The bill is close to a Senate floor vote, but still facing challenges.
Software engineer and crypto expert Vincent Van Code (@vincent_vancode) has mapped the current vote count, and it shows 51 confirmed or likely yes votes out of the 60 needed.
Republicans Are Aligned
Republican support is solid. Senator Cynthia Lummis (R-WY) has driven the bill forward since its earliest drafts. She chairs the Senate Banking Subcommittee on Digital Assets, and has personally held Bitcoin since 2013.
She released the latest text and continues to assert it must pass before the August recess. Senator Tim Scott (R-SC) advanced it out of the Banking Committee 15-9 in May and is pushing to get the merged text to the floor.
Senator Kevin Cramer (R-ND) went on Fox Business on July 21 and said “we’re almost there” and “we have to get this done.” Majority Leader John Thune (R-SD) has committed to a floor vote during this work period regardless of final Democratic sign-off.
All 13 Republicans who voted yes in the May markup are expected to hold. No Republican has issued a public floor opposition statement on the current text. Whereas, analysts at Galaxy Research have previously flagged Senators Josh Hawley (R-MO) and Rand Paul (R-KY) as possible no votes based on their prior positions on the GENIUS Act. Neither has made a public statement on the CLARITY Act.
Democrats Are Not Moving Yet
The Democratic side is the problem. Senators Ruben Gallego (D-AZ) and Angela Alsobrooks (D-MD) were the only two Democrats to vote yes in the Banking Committee markup in May. Both have since pulled back.
Despite his crypto-friendly profile, Gallego joined a joint statement from seven Democrats on July 22 saying the current text “falls short” on ethics, consumer protection, illicit finance, conflicts of interest, and market integrity.
Alsobrooks helped broker the compromise on stablecoin yield language that got the bill out of committee in the first place, negotiating that provision alongside Senator Thom Tillis (R-NC). She had stated clearly after her May vote that it did not mean she would vote to pass the bill on the floor. On July 22, Alsobrooks rejected the latest draft and called DOJ-only ethics enforcement “an unserious offer.”
More Democrats Opposing the Bill
Senator Elizabeth Warren (D-MA), the Banking Committee’s ranking member, voted no in May and has continued to characterize the bill as written for the industry. Senators Chris Murphy (D-CT), Chris Van Hollen (D-MD), and Jeff Merkley (D-OR) held a press conference on July 14 demanding stronger restrictions on officials’ personal crypto dealings.
Senators Catherine Cortez Masto (D-NV), Cory Booker (D-NJ), John Hickenlooper (D-CO), Mark Warner (D-VA), and Raphael Warnock (D-GA) all signed the July 22 joint rejection statement. Senators Jack Reed (D-RI) and Tina Smith (D-MN) voted no in committee and have expressed consistent skepticism on enforcement provisions.
The Clock is Ticking
The Senate breaks for recess around August 8. A new draft circulated July 22 includes an ethics provision. However, it sunsets in 2029 and requires regulators to implement it within a year of enactment. Thune told reporters the vote is coming “in the next couple of weeks.” The votes, for now, are not there, and the deadline is drawing nearer.
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