Senate Republicans reject Democratic counteroffer hours before CLARITY Act vote

  • Senate Republicans rejected Democrats' counteroffer on the CLARITY Act before its procedural vote.
  • Republicans said their latest text contained 126 substantive changes requested by Democrats.
  • The Senate scheduled the cloture vote for 2:15 p.m. on H.R. 3633.

Senate Republicans rejected a late Democratic counteroffer hours before the scheduled 2:15 p.m. procedural vote on H.R. 3633, the CLARITY Act, leaving the bill's path uncertain. The Senate needs 60 votes to invoke cloture, a procedure that limits debate and allows formal floor consideration to begin. Republicans said their Sunday text incorporated 126 substantive Democratic requests, including changes on ethics, software developer protections and the agriculture title, while adding a circuit breaker intended to address potential deposit transfers from community banks into stablecoins. Democrats sought further restrictions on crypto holdings and promotions, narrower language in the Blockchain Regulatory Certainty Act, and stronger market and Tribal gaming protections. Banking groups said the circuit breaker would act too late, while the White House defended the Republican draft as effectively final. Several senators remained undecided, and Democratic Senator Kirsten Gillibrand urged colleagues to advance the bill so negotiations could continue on the Senate floor.

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Senate Republicans reject Democratic counteroffer hours before CLARITY Act vote - CoinPost Terminal