Moreno Signals End to CLARITY Act Talks Ahead of Cloture Vote
Senator Bernie Moreno has declared that negotiations on the Digital Asset Market Clarity Act (CLARITY Act) between Senate Democrats and Republicans are officially concluded, ahead of a scheduled cloture vote on September 15. Moreno took to social media to emphasize that there is “nothing to iron out,” stating that an agreement was reached weeks ago and that all parties are expected to honor their commitments.
Moreno, a Republican from Ohio, argued that the eleven months of talks have ended, and now every Senator must cast their vote. He framed the upcoming decision as a choice between handing the crypto industry to China or embracing American exceptionalism to maintain U.S. dominance. “It’s an easy choice if you love America!” he wrote.
Despite Moreno’s confidence that all 53 Republican senators will support the bill, some within the party have expressed reservations. Senators Jerry Moran and Josh Hawley have publicly stated they will oppose the CLARITY Act in its current form. Hawley told Politico that constituents in Missouri, particularly farmers and ranchers, are deeply concerned that deposit flight from small-town banks could jeopardize their ability to secure agricultural loans. Moran echoed similar concerns about the impact on community banks in Kansas.
Even if all Republicans were to vote in favor, the CLARITY Act would require 60 votes to pass, meaning at least seven Democrats must be persuaded to support it. Analysts view this as unlikely, partly due to ongoing ethics disputes tied to President Donald Trump’s involvement in cryptocurrency ventures. The White House has been discussing an ethics provision, which remains a sticking point for the bill’s success.
Senate Majority Leader John Thune has indicated his intention to file for a cloture vote, forcing a decision on the legislation. The outcome remains uncertain as internal GOP opposition and unresolved ethical concerns threaten the bill’s passage.