The Trump administration is maintaining its plan to handle the CLARITY bill in September, a digital asset market structure bill, even as the U.S. Senate’s schedule has been pushed back.
On Aug. 11 local time, blockchain outlet Cointelegraph reported that the White House’s top cryptocurrency policy official said the vote has been delayed until after the Senate’s August recess, but negotiations will continue to pass the bill.
Patrick Witt (패트릭 위트), executive director of the President’s Digital Asset Advisory Council, wrote on X that the administration will keep negotiating with Democrats until just before the September vote. He wrote, “We will keep negotiating until the September vote,” while also adding, “We cannot wait forever.”
The Senate is expected to hold a cloture vote on the bill in mid-September. The cloture vote is a step toward a final vote, and 60 votes are needed to advance the bill. With the Senate not moving to act before the August recess, the discussion has been pushed back by about a month.
The core of the CLARITY bill is setting a federal market structure for digital assets. It would establish criteria for whether a cryptocurrency token falls under securities law or commodities law, and it also addresses how trading platforms would be regulated. The industry views the bill as legislation that would set the broad framework for digital asset regulation in the United States.
Issues remain to be resolved before the September vote. Senators have yet to come up with a solution to Democrats’ call for stronger ethics rules targeting cryptocurrency interests linked to President Trump. The issue remains a political point of contention in the bill’s passage process.
Banks are also calling for revisions to some provisions. They are particularly taking issue with language that could be interpreted as allowing companies to pay rewards to stablecoin holders. Concerns have been raised that if the language remains unchanged, stablecoin business models could conflict with the interests of the financial sector.
Against this backdrop, the White House left room for negotiations but took a stance that sets September as the deadline. Witt said talks would continue, but also signaled it would be difficult to accept a prolonged delay. How Democrats’ ethics-rule demands and banks’ calls for regulatory changes are adjusted in the run-up to the Senate vote is expected to be a key variable in passing the bill.
In the end, the cloture vote scheduled for mid-September is likely to be the first hurdle in determining whether the CLARITY bill can move to a final vote. With the bill seeking to address in a single measure the securities-versus-commodities classification of digital assets and a regulatory framework for trading platforms, the Senate vote is expected to directly affect the direction of U.S. cryptocurrency regulation debates.