U.S. Senate Democrats are preparing a separate amendment to counter the latest revisions to Republicans' Clarity Act, a cryptocurrency market structure bill.

Cointelegraph reported on Monday that dissatisfaction within the Democratic Party persists over cryptocurrency ethics provisions included in the latest bill.

The Democratic counterproposal is expected to be submitted just hours before a key procedural vote. The vote will determine whether the Senate can move the Clarity Act to the stage of full-chamber consideration, and is expected to be an important turning point for the bill's future.

Republicans earlier described the revised Clarity Act they released on Sunday as their "last and best final offer" to Democrats. Democrats, however, are not accepting the latest language as written and are demanding additional changes.

Democratic senators involved in the negotiations met on Sept. 14 at the office of Senate Democratic Leader Chuck Schumer (척 슈머). Politico reported that some Democrats remained dissatisfied with the latest bill's cryptocurrency ethics provisions during the meeting.

Democratic Senator Mark Warner (마크 워너) said as he left the meeting, "Democratic members who have been working on this in good faith are sending a counterproposal."

The central dispute in the counterproposal is cryptocurrency-related ethics rules. Some Democratic lawmakers believe the latest language is not sufficient to address conflicts of interest and ethics issues involving public officials and cryptocurrency. Although Republicans put forward an amendment they stressed was the final offer in negotiations, Democrats are preparing a separate alternative up to just before the procedural vote and are calling for additional talks.

The procedural vote is therefore expected to serve as a test of the direction of negotiations between the two parties, beyond simply determining whether the bill advances to the next stage. A key variable is whether the Democratic counterproposal leads to further talks with Republicans or directly affects the vote.