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Following
BTC CLARITY bill stalled after Senate vote
As the Senate voted to end debate and enter the bill's voting process, the motion was defeated by 49 votes to 50. Ethics provisions involving officials 'holding of cryptoassets became a core point of contention in pre-vote negotiations in the Senate.
Democrats are reported to have shown interest in holding another vote, leaving room for subsequent negotiations, although the circumstances for additional support remain uncertain. Negotiations on the CLARITY bill face uncertainty because senators failed to advance the measure, and further progress depends on reopening dialogue.
The legislative process hits a crossroads
Lark Davis described Tuesday's results as a setback rather than a final conclusion. He pointed out that the necessary threshold of votes for closing debates had not been reached. The vote was that 49 senators supported the end of the debate and 50 opposed it. The Senate needs 60 votes to pass the bill for review. Therefore, this procedural vote did not allow for any further action at the time. This is not a final vote on the legislation itself. (Reuters)
The House previously approved the measure by a vote of 294 to 134. The Senate Banking Committee also approved the draft by a 15 - 9 vote. However, these early stages did not address the issue of higher procedural thresholds in the Senate.
Ethics clause remains focus of negotiations
The current instant disagreement centers on the ethical provisions related to cryptocurrency holding. These provisions are intended to regulate the financial activities of public officials and their spouses. The controversy is independent of the broader framework of market structure.
Within the Senate, Republicans released a new draft bill ahead of an expected procedural vote. The draft is said to contain 126 substantive amendments proposed by Democrats. The revisions include adding ethics clauses and strengthening law enforcement responsibilities.
The revised text seeks to limit officials 'financial interests related to cryptocurrencies and delegate some enforcement responsibilities to state attorneys general. Still, some lawmakers question whether the changes are sufficient.
Negotiations also involved differences between federal and state jurisdictions. The state attorney general has expressed concern about possible limitations on law enforcement powers, an issue that adds new variables to legislative negotiations.
Later, JackTheRippler reported that six to seven Democrats wanted another vote. His analysis connects this stance to calls for clearer rules for cryptocurrencies. However, the report did not confirm that the senators had made formal commitments.
Lame-duck meeting may bring new opportunities
Currently, attention has turned to the congressional calendar and the November election. Lark Davis pointed out that the "lame duck" session (the session of Congress after the election but before new members take office) could be another window of opportunity. Outgoing members of parliament can participate in the legislative process during this period.
数字主权联盟的Adrian Wall认为这种可能性是“小概率事件”。他的评估反映了今年剩余立法窗口的局限性。该法案在另一次尝试之前仍需经过进一步的谈判。
此外，Thom Tillis参议员在周二的程序性投票中改变了立场。这一举动根据参议院程序保留了重新审议的潜在途径。然而，另一次投票仍需获得足够的参议院支持。
11月的选举也可能改变国会格局。与此同时，未解决的条款继续影响着围绕该立法的谈判。目前，其下一步行动取决于时机、谈判结果以及参议院的支持力度。
