The CLARITY Act needs 11 additional Senate votes after a procedural motion to advance the cryptocurrency market-structure bill failed 49-50 on Sept. 15, according to CryptoSlate. However, four Republican senators who backed that motion—John Cornyn, John Curtis, Cindy Hyde-Smith, and Lisa Murkowski—are also named supporters of a bank-backed amendment that would impose tougher restrictions on stablecoin yield. The development highlights a potential split among some of the bill’s existing Senate supporters over provisions affecting stablecoins. Punchbowl News reported the senators’ support for the amendment on Sept. 21. The CLARITY Act’s next path depends on securing enough additional votes while addressing the concerns of lawmakers seeking changes to the legislation.
