Odaily Planet Daily report: The U.S. Senate plans to hold a cloture vote on the CLARITY Act regarding digital asset market clarity on Tuesday; the bill requires 60 votes to end debate. If it fails to secure a three-fifths majority to proceed, fewer than 36 legislative days remain before 2027.
U.S. Senator Cynthia Lummis, who supports the CLARITY Act, said on September 6 that if lawmakers fail to reach an agreement and send the bill to the president for signing, the next real opportunity for passage may not come until 2030. The 2026 midterm elections will renew all 435 seats in the House of Representatives and 33 seats in the Senate.
Regardless of whether the Democrats regain control of one or both chambers of Congress in the midterm elections, the White House will remain under Republican control until January 2029, allowing the president to veto related legislation. Both Paul Atkins, nominated to chair the U.S. Securities and Exchange Commission (SEC), and Michael Selig, nominated to chair the Commodity Futures Trading Commission (CFTC), have stated that they will continue advancing digital asset regulation if the CLARITY Act does not progress this year. (Cointelegraph)