Last week, CoinDesk reported that people familiar with the Clarity Act negotiations expected a new bill to circulate this week. The text of the updated bill will combine the different versions of the banking and agriculture committees and include some 70 additional pages, sources told CoinDesk. What it won’t include, as of press time, is an ethics provision or agreements on some of the remaining controversial issues in the Clarity Act, meaning it’s not yet ready for a vote.
The rest of this newsletter will be conjecture and speculation. Senate Majority Leader John Thune told Punchbowl News last month that he was prepared to bring the bill to a floor vote in July. Rumors suggest the bill could come before the Senate during the week of July 20 or 27.
If a vote is called, there will likely be a full press to try to ensure it gets at least 60 votes in the Senate, meaning at least seven Democrats will need to be prepared to support the bill — and more if any Republicans vote against it or are unable to make it to the vote.
Expect organizations like Stand With Crypto to declare they will get out the vote and for the industry to take note of the hundreds of millions of dollars available to crypto political action committees.
