CLARITY Bill Still Unsettled, Caught Up in U.S. Bipartisan Political Game
The U.S. Senate Banking Committee voted 15-9 to advance the CLARITY Act for a full Senate vote, overcoming a key industry compromise on stablecoin rewards. However, the legislation faces significant political hurdles as it moves forward.
The vote fell largely along party lines, with all 13 Republican committee members voting in favor and only two Democrats—Ruben Gallego and Angela Alsobrooks—joining them. Both Democrats indicated their support was conditional to keep debate alive and could be withdrawn later.
The path to final passage in the full Senate remains difficult. The bill requires 60 votes to pass. With a current 53-47 Republican majority, this means at least 7 Democratic votes are needed, assuming no Republican defections. The narrow, partisan committee vote suggests securing that level of bipartisan support will be challenging.
During the committee process, Democrats pushed for numerous amendments, including a key ethics provision to restrict top government officials' financial ties to the crypto industry. Republicans used their majority to block these amendments, leaving core Democratic concerns unaddressed. These issues, particularly around anti-money laundering and ethics, are expected to resurface as major points of contention during the full Senate debate.
Republicans are pushing for a swift Senate vote, ideally before the July 4 recess and the upcoming election season, fearing that a shift in congressional power after the next election could jeopardize the bill's future. However, given the current political stalemate and Democratic demands for concessions, the act's prospects for becoming law in 2026 are uncertain.
Odaily星球日报5 ч. назад
