Overview
- The CLARITY Act has cleared the Senate Banking Committee but still requires a full Senate floor vote to become law.
- Investor Mike Novogratz said negotiators may be close to a final draft, a comment that traders interpreted as rising odds for passage.
- President Trump publicly urged senators to approve the bill and the White House has held meetings to build bipartisan support.
- Senate procedure requires roughly 60 votes to beat a filibuster, meaning Republicans must win about seven Democratic votes for cloture.
- Enforceable ethics language about the president’s family crypto interests plus disputes over developer protections and stablecoin rules remain the chief obstacles before the August recess.