CLARITY Act News: Final Bill Faces Ethics, Banking and State Concerns

CLARITY Act News: Senate Face 60-Vote Test as Ethics Fight Intensifies Tuesday marks a pivotal moment for digital asset policy in Washington. The Senate is set to vote on whether to advance the CLARITY Act, the sweeping market structure bill meant to define regulatory jurisdiction over crypto assets. The procedural vote requires 60 votes to succeed, and the outcome remains uncertain after a chaotic final 24 hours of dealmaking, public letters, and last-minute objections from multiple corners of Washington. At a Glance The Senate cloture vote on the CLARITY Act Tuesday afternoon, needing at least 60 votes to move forward. Democrats, including Elizabeth Warren, Mark Warner, and Ruben Gallego, say new ethics provisions still contain loopholes. Republicans, led by Senator Cynthia Lummis, argue the administration has already given significant ground and there is nothing more to offer. Treasury Secretary Scott Bessent is backing the final text, while eight banking trade groups say a new deposit "circuit breaker" doesn't go far enough. Eighteen state attorneys general, led by New York's Letitia James, are pushing back over concerns about state enforcement authority. SEC Chairman Paul Atkins says crypto regulatory reform will continue with or without the bill's passage. CLARITY Act News: What Is Happening Before Tuesday's Senate Vote? The vote scheduled for 2:15 PM ET Tuesday is a cloture vote, not a final passage vote. Cloture simply determines whether the Senate can proceed to formal debate on the bill. Reaching that threshold requires support from at least 60 senators, meaning a meaningful number of Democrats would need to join Republicans for the measure to advance. As one Washington observer put it, everyone walks away a little disappointed, which is often a sign that a compromise has genuinely been reached. Even so, clearing this hurdle would only open the door to further debate, not settle the bill's fate. Democrats Say New CLARITY Act Ethics Rules Still Fall Short Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, plans to speak against the Crypto bill 2026 on the floor. She argues the newly added ethics language, which bars the president and senior officials from issuing digital assets, still leaves major gaps, including limited enforcement power for regulators and no clear coverage of the Trump family's World Liberty Financial venture or its pursuit of banking licenses. Senator Mark Warner has echoed that view, saying the ethics provisions don't go nearly far enough. Senator Adam Schiff added that the rules likely would not apply to the first family in their current form and contain too many carveouts. Senator Ruben Gallego is reportedly preparing a counterproposal, while Senator Angela Alsobrooks has withheld comment.