On Sep. 15, the U.S. Senate will take a procedural cloture vote on the much-awaited Digital Asset Market Clarity Act. The CLARITY Act is the most comprehensive legislation to regulate cryptoc
On Sep. 15, the U.S. Senate will take a procedural cloture vote on the much-awaited Digital Asset Market Clarity Act.
The CLARITY Act is the most comprehensive legislation to regulate cryptocurrencies in the U.S., which aims to designate distinct responsibilities to the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Related: Treasury Secretary Bessent issues stern warning ahead of Senate vote
The legislation seeks to clarify which crypto assets are securities or commodities. But it has frequently run into trouble over the past months due to several concerns.
Several large banks have opposed the stablecoin rewards in the bill, which they fear will steal their customers.
The Democrats have also been trying to include an ethics provision to restrict senior federal officials and their spouses from using their positions to personally profit from digital assets.
According to a recent AP report, President Donald Trump has agreed to a significant portion of a stringent ethics proposal, according to three of the bill’s main Republican authors.
A core group of Democrats and the Republican senator from North Carolina, Thom Tillis, were not convinced that the restriction provision could sufficiently address the conflict-of-interest concerns they had with Trump’s crypto dealings, as per the report.
These senators also asked for language to allow state attorneys general to intervene and enforce the law in addition to the Justice Department.
On Sep. 14, the U.S. Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis (R-WY), Chairmen John Boozman (R-AR), and Tim Scott (R-SC) released a final draft of the CLARITY Act and said it includes 126 substantive changes made at the request of Democrats.
"A no vote on Tuesday means opposing real ethics reforms on politicians’ personal investments, handing American leadership in digital assets to our foreign competitors, and leaving Americans with zero protections in the digital asset markets," Lummis said. "Democrats got what they wanted; now they need to take yes for an answer.”
A cloture vote is a formal parliamentary procedure used to end a debate and force a vote on a legislative proposal.
The Senate vote requires 60 votes for the bill to move to the next stage. It means at least seven Democrats need to say aye.
As the crypto industry awaits the Senate vote on Sep. 15, a crypto trader bought Bitcoin (BTC) worth millions last week.
According to the onchain analysis platform Lookonchain, the trader bought 1,075.6 Bitcoin for approximately $79,412 apiece within a span of four days.
A whale has spent 85.42M $USDC to buy 1,075.6 $BTC at an average price of $79,412 over the past 4 days!https://t.co/6qqBITTREphttps://t.co/ObDL3svNG8pic.twitter.com/gjRXPWT1uI
— Lookonchain (@lookonchain) September 12, 2026
A crypto trader's wallet address remains public, but their name rarely becomes public. That is why the identity of this millionaire crypto trader remains anonymous.
BTC/USD, Source: DecibelBitcoin, which has surged 25% in a month after a long bear market, was currently trading at $78,749, as per Decibel.
