Senate vote Tuesday will test support for crypto market rules

WASHINGTON — The Senate is scheduled to take a make-or-break procedural vote Tuesday on the Clarity Act, a long-stalled bill that would create a federal regulatory framework for cryptocurrencies and other digital assets.

The measure would need 60 votes to advance and break a filibuster. With a full Senate, that means at least seven Democrats would have to join Republicans. The bill cleared the Senate Banking Committee in May but has languished for months amid fights over ethics rules tied to President Donald Trump’s crypto holdings and the treatment over of stablecoins.

Republican sponsors released revised text late Sunday and early Monday, calling it their final offer. Wyoming Sen. Cynthia Lummis said the update incorporates more than 120 Democratic requests.

“This text is truly bipartisan,” Lummis said. “A no vote on Tuesday means opposing real ethics reforms on politicians’ personal investments, handing American leadership in digital assets to our foreign competitors, and leaving Americans with zero protections in the digital asset markets. Democrats got what they wanted; now they need to take yes for an answer.”

The revised bill includes parts of an ethics deal brokered by Sens. Thom Tillis and Ruben Gallego that the White House has accepted. Among the provisions is a Democratic demand allowing state attorneys general to enforce ethics rules on federal officials.