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White House Crypto Meeting Fuels Bullish Bitcoin Predictions as 27-Day CLARITY Countdown Begins
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The Senate’s first CLARITY Act floor test is scheduled for Sept. 15.
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Lummis said forcing senators to vote would intensify negotiations over the bill’s remaining disputes.
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The passage could support institutional crypto adoption, putting bullish Bitcoin price predictions in focus.
The US Senate will hold a crucial procedural vote on the CLARITY Act in 27 days, as Trump meets crypto leaders at the White House today.
As the firm deadline for the stalled bill gets closer, bullish Bitcoin price forecasts are coming into focus.
Senator Cynthia Lummis said Senate Majority Leader John Thune had scheduled the vote for Sept. 15 after lawmakers failed to resolve their differences before the August recess.
Lummis Says Vote Will Force Senators To Get Serious
Speaking alongside Senate Banking Committee Chairman Tim Scott at the SALT Wyoming Blockchain Symposium, Lummis welcomed the decision to put the legislation on the calendar.
“Senator Thune was kind enough to actually schedule the bill,” she said, “you have to force them to vote to get them serious.”
The procedural motion is scheduled to ripen at 2:15 p.m. ET on Sept. 15, according to reporting based on the Senate’s official schedule.
It’s important to note that the event is not a final vote on the CLARITY Act.
It is a cloture vote on the motion to proceed, meaning senators will decide whether to limit debate and formally begin considering the bill.
Official Senate records show that Thune filed the motion on Aug. 8 before lawmakers left Washington for their summer recess.
The measure needs 60 votes to advance.
If all 53 Republican senators support it, its sponsors would still need at least seven Democrats or independents.
Why the CLARITY Act Vote Is Critical
Supporters argue that the CLARITY Act would replace years of regulation-through-enforcement with clearer registration and consumer-protection requirements.
Negotiations have significantly reshaped the legislation.
Lummis claimed the bill had grown from fewer than 300 pages to more than 600 after Republicans accepted over 100 requested changes from Democrats.
She identified two disputes that could still prevent an agreement.
The first concerns protections for software developers.
According to Lummis, a group of state attorneys general proposed language requiring developers to prove they did not know their software would facilitate illicit transactions.
The second dispute concerns Trump’s crypto interests.
Lummis said she and Republican Senator Bernie Moreno had persuaded Trump to place relevant holdings in an ethics-office-approved blind trust or divest them.
Source: finance.yahoo.com