WASHINGTON: A US crypto bill faces a procedural vote in September after Senate Majority Leader John Thune filed cloture on a motion to take up the legislation early Saturday.
Thune filed the motion on August 8, shortly before the Senate adjourned for its recess initial vote was expected on September 15, The Block reported.
The cloture motion requires 60 votes. Approval would limit debate on whether to consider the Digital Asset Market Clarity Act, H.R. 3633, but would not pass the bill or guarantee a final vote.
The legislation would establish a federal framework for digital assets. It would define when tokens fall under securities or commodities law and divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
The Senate Banking Committee advanced the measure by a bipartisan 15-9 vote in May. Senator Cynthia Lummis released updated legislative text on July 22 that merged work from the Banking and Agriculture committees.
Read: Trump Unveils US Crypto Strategic Reserve with Top Digital Assets
Negotiators have not resolved disputes over stablecoin rewards or restrictions on crypto ventures involving government officials.
Read: Standard Chartered Zodia Deal Expands Crypto Custody
Democrats want stronger ethics provisions, while banks oppose language they say could let crypto companies compete for deposits through customer rewards, Reuters reported.
The Trump administration supports the measure. Its passage would follow the GENIUS Act, which Trump signed in July 2025 to regulate payment stablecoins.
