Key facts
- Senate Majority Leader John Thune delayed filing a cloture motion for the Clarity Act.
- The delay is due to ongoing issues with a continuing resolution (CR) and unresolved ethics concerns.
- A cloture vote requires 60 votes to advance the bill for a Senate vote.
- The White House has not yet responded to a bipartisan ethics counteroffer.
- The Senate is prioritizing nominations, including for the CDC Director.
Senate Majority Leader John Thune has delayed filing a cloture motion for the cryptocurrency bill known as the Clarity Act, citing ongoing issues with a continuing resolution (CR) to fund the government and unresolved ethics concerns. This procedural move narrows the window for potential votes on the bill before the August recess.
According to Eleanor Terrett, the delays in the CR and potential filibusters over ethics rules and the Blockchain Regulatory Certainty Act (BRCA) have led Thune to avoid filing for cloture. Republicans, holding 53 seats, require significant Democratic support for the bill to pass. The White House has yet to comment on a new bipartisan ethics counteroffer from senators.
Some lawmakers are reportedly considering forcing a floor vote to put senators on record, even if the bill is unlikely to reach the 60-vote threshold required for cloture. The Wall Street Journal Editorial Board had previously called for changes to the bill, suggesting it could be exploited for illicit payments, a view that drew pushback from the crypto community.
Once the CR issues are resolved, Thune may file for cloture on Wednesday, initiating a process that requires 60 votes and a subsequent 30 hours before a procedural vote can occur. The Senate is currently prioritizing votes on nominations, including for the Director of the Centers for Disease Control and Prevention and 74 other nominations, further limiting the time available for the Clarity Act.