The United States Senate heads into a consequential vote Tuesday on sweeping cryptocurrency legislation after Republicans released a final draft that addresses several of the biggest sticking points in negotiations — but leaves questions about whether the bill has enough support to advance.
The Senate will vote for the first time on whether to advance the legislation as part of an initial procedural process, with the latest text drawing optimism from some in the crypto industry and renewed opposition from banks and lawmakers who say key provisions still fall short.
Senate Republicans released new draft text late Sunday that aims to tackle three issues that have been in the middle of negotiations — President Donald Trump's crypto conflicts of interest, an ongoing battle between crypto and banks on stablecoin rewards and software developer protections.
Key negotiator Sen. Cynthia Lummis, R-Wyo., pushed for fellow lawmakers to advance the bill.
"The Clarity Act is right in front of us and this moment won’t come along again for years," Lummis said in a post on X. "Let’s take the win and get this done."
