However, many of the factors delaying the bill’s progress are now rooted in political disputes rather than the specific wording of the legislation.
Lawmakers have reached consensus on the majority of the issues concerning the bill, which gained independent endorsements from both the Senate Banking and Agriculture Committees. The key remaining hurdle involves an ethics clause aimed at Trump, who reported earning over $1 billion from his various cryptocurrency ventures in 2025.
Although Trump signaled his support for an ethics provision facilitated by Senator Cynthia Lummis, Senate Democrats, along with some Republicans like Thom Tillis, expressed reservations about the proposed wording. In response, Tillis and Senator Ruben Gallego created an alternative proposal and submitted it to the White House at the end of July. As of the time of reporting, the White House had yet to issue a public response.
According to a Senate aide speaking to CoinDesk, other unresolved matters include provisions from the Agriculture Committee and concerns regarding law enforcement; discussions around stablecoin yields and rewards are ongoing as well.
The next significant procedural question revolves around when Thune will request cloture on the Clarity Act. Should he file for cloture before the Senate adjourns this month, lawmakers will be able to conduct the first procedural vote on the bill as soon as Tuesday, September 15. Conversely, if he files after the Senate reconvenes the following Monday, the earliest that vote could occur is Wednesday, September 16, according to Senate rules.