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FollowingCLARITY Bill faces key Senate test on September 15
The U.S. Senate will hold a procedural vote on the CLARITY Act (Cryptographic Asset Market Clarity Act) on September 15. Patrick Witt, executive director of the White House Digital Assets Advisory Council, and Treasury Secretary Scott Bessent are actively calling for bipartisan support for the bill. However, the bill requires 60 votes to advance, and no Democratic senator has publicly expressed support.
The revised bill is 630 pages long and contains 114 provisions requested by Democrats, but controversial ethics rules remain largely unchanged. Data from prediction platforms Polymarket and Kalshi shows that the probability of the bill being passed before the end of the year is close to 20%, and its legislative prospects remain full of uncertainty.
White House advisers warn: vote fails or legislative window closes
In an interview with Semafor, Witt warned that if procedural motions are not passed, the current legislative window may be closed. He pointed out that no matter what the outcome is, it will be difficult to satisfy either party, and it is unclear when lawmakers will be able to reconsider the issue.
At the same time, Besent also separately urged senators to approve the procedural motion. He stressed that if the bill fails to pass, it will weaken the United States 'leadership in the field of digital assets. The bill aims to establish a regulatory framework for digital assets and divide regulatory powers between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Given that Republicans hold 53 seats in the Senate, the support of at least six Democratic senators is needed to ensure the bill's passage.
Revised version retains controversial ethics clauses, Democratic Party's core obstacles remain
Senator Cynthia Lummis released a revised 630-page bill text after including more than 114 Democratic proposed amendments. The new text contains regulatory rules for non-decentralized finance protocols.
According to regulations, registration requirements need to be fulfilled if the functions, operations or rules of certain agreements can be materially changed through a single person or coordinating group. The bill directs the CFTC and the Treasury Department to develop specific rules for such agreements and requires regulators to assess whether they meet securities, commodities and anti-money laundering requirements.
However, the revised text largely retains key ethics provisions, which remains the main obstacle pointed out by Democratic lawmakers. The Justice Department will continue to retain primary authority over enforcement of conflict of interest rules.
Pre-vote approval rate remains low
Politico reported that despite revisions, the bill still has no public support from Democrats. Forecasting platforms Polymarket and Kalshi estimate the odds of the bill passing before the end of the year at around 20%. The bill was introduced in May 2025 and passed the House in July.
If the Senate vetoes the procedural motion, lawmakers may revisit the bill during a lame duck session or during the next congressional term. Witt and Bessent have urged lawmakers to continue negotiations until September 15. The vote will be a direct test for the bill.
