WASHINGTON — The U.S. Senate has initiated the first procedural steps for the Digital Assets Market Clarity Act, with Majority Leader John Thune filing a formal motion to proceed early Saturday. The action advances the crypto market structure bill to an initial procedural vote scheduled for Sept. 15, marking the furthest legislative progress for the industry's primary policy initiative.
The motion to proceed is a parliamentary maneuver used to bring a bill to the floor for debate when it lacks unanimous support. It is the first step toward a cloture vote, which requires 60 yes votes to limit debate and allow a final vote on the legislation. The Clarity Act will need bipartisan support, including at least 10 Senate Democrats, to clear that threshold.
This procedural advance follows the bill's failure to secure a vote before the Senate's August recess. The September legislative session offers a three-week window for floor time, during which the Clarity Act must face a crowded schedule of unfinished bills before Congress shifts focus to the November elections.
Negotiations continue on several unresolved issues. Key disagreements include the specifics of its illicit-finance protections, the ongoing debate over stablecoin rewards and a government-ethics provision. Resolving these points is critical for garnering the necessary support.
The government-ethics provision, which prohibits senior government officials including President Donald Trump from backing crypto projects, represents a significant sticking point. A revised proposal addressing this section, drafted by a bipartisan group of senators, has been awaiting a response from the White House for over a week. Trump's approval is likely necessary for the Clarity Act to advance as a bipartisan measure.
Democratic senators involved in the legislation have maintained their firm stance on the ethics ban. Their continued resistance highlights the challenge of achieving the 60-vote supermajority required for cloture.
Despite the legislative hurdles, industry insiders and Senate staffers remain optimistic about a September timeline if lawmakers can reach consensus on the outstanding issues. Senators require only a few days across the three weeks in session next month to complete the voting process.
Weeks earlier, Thune had expressed doubts about the bill receiving a final vote before the August recess, indicating that other Senate priorities—federal funding bills, Russia sanctions and nominations—required more urgent attention. The Senate completed those tasks Friday night.
Thune's late-night decision to pursue the motion to proceed suggests renewed optimism from his office regarding the bill's prospects. The formal step ensures the Senate can address the initial procedural vote almost immediately upon its return in September.
The Sept. 15 cloture vote will depend on whether ongoing negotiations can bridge the remaining policy gaps and persuade enough Democrats to support the legislation. Without such an agreement, the bill's chances of final passage in 2026 remain tenuous.
