Overview
- Senators will hold a procedural cloture vote on the CLARITY Act on Sept. 15 that requires 60 votes to begin floor debate and would not constitute final passage.
- House Republican leaders cut voting days and moved the chamber to leave Washington on Sept. 17, sharply narrowing the window to act if the Senate amends the bill.
- The merged Senate text would split oversight between the SEC and CFTC and include customer protections such as Section 701, which treats customer-held crypto as customer property in Chapter 7 bankruptcies, but key disputes over stablecoin rewards, ethics rules, and anti-money‑laundering treatment for DeFi remain unresolved.
- Regulators are advancing parallel actions that could shape markets if Congress stalls, with the SEC sending a crypto custody proposal to the White House OMB on Aug. 25 and the CFTC preparing its own digital-asset rule drafts.
- The National Sheriffs’ Association shifted to a neutral stance on Sept. 3, removing a vocal law-enforcement opponent but leaving a split among enforcement groups that will shape debates over AML and developer liability on the Senate floor.