Democrats 'Move the Goalposts' on Clarity Act Hours Before Key Senate Vote
The Senate will vote on cloture for the Clarity Act, a major crypto market structure bill, needing 60 votes to advance to floor debate. Republicans say their latest draft includes 126 Democratic-requested changes, including revisions on ethics, developer protections, the Ag title, and a new “circuit breaker” meant to address fears that stablecoin yield could trigger community bank deposit flight. Democrats responded with a counteroffer seeking more changes on ethics and the Blockchain Regulatory Certainty Act, but not on stablecoin yield. Several Democrats still want stronger ethics restrictions, while banking groups argue the circuit breaker is too weak and stablecoin rewards still contain loopholes. Republicans say the offer is essentially final, and the White House crypto team signaled little room for more negotiation. The vote outcome remains uncertain: some Republicans are still undecided, while others support moving the bill forward but not final passage yet. Mitch McConnell’s return boosts GOP headcount slightly. The result may hinge more on politics than policy.
