The Clarity Act is still not dead. Patrick Witt, the White House crypto advisor, even says he is “optimistic” ahead of the next vote scheduled in the Senate on September 15. The text exceeds 600 pages and aims to give the United States a federal framework for the crypto market. However, an old issue complicates the discussions again: the rewards paid on stablecoins.
In brief
- The Senate plans a new stage of the Clarity Act on September 15.
- The compromise on stablecoin rewards returns to the discussions.
- Ethics rules targeting Donald Trump’s crypto activities also remain to be settled.
Crypto now awaits September 15
American senators are currently enjoying their summer break. They are to return to Washington in mid-September. The Clarity Act awaits them. The text has been seeking for months to clarify the SEC and CFTC’s jurisdictions over the crypto market. The House of Representatives had already adopted its version in July 2025.
In the Senate, things are taking much longer. John Thune, the Republican majority leader, has scheduled a cloture vote for September 15. This procedure would allow progress toward a vote on the text by limiting debates.
Patrick Witt wants to believe in it. The White House crypto advisor said Tuesday that Republicans intend to use the coming weeks to discuss with Democrats and resolve the still open disagreements. He says he is “optimistic and confident.” The schedule leaves little room. The Senate returns in September before another break in October.
Stablecoins return to the table
Washington thought it had found a compromise. Banks have refused for several months that crypto platforms pay yields simply because a user holds stablecoins in their account. They fear direct competition with bank deposits in particular.
The crypto industry defends these programs. A compromise negotiated by Senators Angela Alsobrooks and Thom Tillis was supposed to calm both sides. It would ban rewards granted solely for holding the stablecoin.
