The United States Senate is scheduled to vote at 2:15 p.m. Eastern Time on Tuesday, September 15, 2026, on a motion to proceed to H.R. 3633, the Digital Asset Market Clarity Act, commonly known as the CLARITY Act. The vote is the first floor test for comprehensive United States crypto market-structure legislation since the House of Representatives passed the bill in July 2025. The cloture motion requires 60 votes in the 100-member Senate to end debate on the motion and begin consideration of the bill. Success would not enact the law; it would permit amendments, a later passage vote and possible House concurrence on any Senate substitute. The House-passed framework would divide digital-asset oversight between the SEC (U.S. securities regulator) and the CFTC (U.S. derivatives regulator), with the CFTC supervising spot trading in tokens treated as digital commodities on mature blockchains and the SEC retaining authority over tokens that remain investment contracts. Payment stablecoins are governed separately under the GENIUS Act, which President Donald Trump signed on July 18, 2025. CLARITY would address registration, exchange and broker standards, decentralized finance (financial activity using blockchain networks), and ethics rules for officials who hold or sponsor crypto. Republicans hold 53 Senate seats, meaning at least seven Democrats or independents would be needed if every Republican votes yes. Senate Majority Leader John Thune filed cloture on August 8, 2026. Sen. John Cornyn is still considering his vote, while Sen. John Curtis supports proceeding but opposes final passage. Sen. Susan Collins is among seven Republicans who have raised community-bank concerns, and possible Republican defections could increase the number of Democratic votes required. The legislative calendar is compressed because the House canceled the weeks of September 21 and September 28 and is expected to leave Washington after September 17. Republican sponsors led by Sens. Cynthia Lummis, John Boozman and Tim Scott released a substitute late Sunday, describing it as their final offer and saying it incorporated 126 substantive changes requested by Democratic negotiators. President Trump accepted expanded ethics provisions covering elected officials, judges and spouses and agreed to a state attorneys general enforcement role. Senate Democrats sent a counterproposal Monday night, while Sens. Mark Warner and Adam Schiff said the text remained insufficient on provisions concerning the first family. A coalition of 18 state attorneys general led by New York Attorney General Letitia James urged senators to reject the bill, arguing that preemption language could restrict state fraud cases and citing $11.4 billion in FBI-reported crypto losses in 2025. Stablecoin rewards remain another dispute. The White House Council of Economic Advisers said in an April 2026 analysis and a September 15, 2026, FAQ that an effective ban on stablecoin yield would have little effect on bank lending and that buying a GENIUS-compliant stablecoin does not destroy a household bank deposit. The latest CLARITY draft preserves transaction-based stablecoin rewards but would let the Treasury secretary restrict them if deposit flight becomes detrimental. Eight banking trade groups, including the American Bankers Association and the Independent Community Bankers of America, sought tighter language on September 14, saying a circuit breaker triggered only after substantial deposit flight is not a meaningful safeguard. Bitcoin traded between $76,800 and $77,500 Tuesday morning as the 10-year Treasury yield rose above 5% and oil remained elevated ahead of the Federal Open Market Committee rate decision on Wednesday. Strategy held 845,050 BTC, while Twenty One Capital and Japan’s Metaplanet each held about 43,000 BTC. The bill would not immediately change those corporate holdings but could eventually influence how auditors, lenders and listing venues treat digital-asset treasuries if digital assets receive statutory CFTC commodity status. Overseas, the European Union’s MiCA framework is live, its CASP grandfathering window closed July 1, 2026, the United Kingdom’s FCA application gateway is opening this month with a wider perimeter set for October 2027, Hong Kong has begun licensing under its Stablecoins Ordinance, and Singapore continues licensing digital payment token firms under the Payment Services Act. Those licenses would not automatically be recognized in the United States. The bill has no legal effect in India, where the 30% tax on virtual digital asset income and 1% TDS remain unchanged. India’s Standing Committee on Finance is scheduled to hear the Department of Economic Affairs on virtual digital assets on Wednesday, September 16. Prediction markets priced the probability of 2026 enactment at about 17% to 18% after the Democratic counteroffer, down from roughly 34% on Monday. A failed cloture vote would not repeal the House-passed 2025 bill, but would stall formal Senate consideration during this window and leave firms operating under the dual SEC-CFTC compliance track they have built by default. The immediate question is whether 60 senators agree to begin debate; amendments, House concurrence, a presidential signature and agency rulemaking would come later as separate steps.