Crypto regulation bill nears Senate vote amid debate over Trump ventures

WASHINGTON — The Senate could vote as soon as Tuesday on landmark legislation spelling out how the federal government regulates cryptocurrency and digital assets, as lawmakers clash over consumer protections and President Donald Trump’s crypto business ventures.

A procedural vote is scheduled on the Clarity Act after a new draft was released Sunday that would add more guardrails to the largely unregulated world of digital currency. The bill needs 60 votes to advance in the Senate, meaning some Democrats would have to join Republicans to move it forward.

The debate has been intense, in part because Democrats are insisting the legislation address Trump’s sprawling crypto ventures.

White House crypto adviser Patrick Witt said the administration and Senate Republicans had worked to accommodate Democratic concerns.

“At every step of the way during the Clarity Act negotiations, the White House and Senate Republicans have been responsive to Democrats’ stated policy objectives,” Witt posted on X. “After more than a year’s worth of negotiations, it’s time to pass this bipartisan bill.”

But not all Democrats are on board.

“This is a bill that is masquerading as a way to create good regulation and protection for consumers with respect to cryptocurrency,” Sen. Chris Van Hollen, D-Md., said in a video posted on X.