Senate Majority Leader John Thune filed a motion to proceed on the CLARITY Act early Saturday, according to Decrypt, moving the crypto market structure bill closer to a floor vote.

• The Senate is scheduled to vote on the motion to proceed on Sept. 15, the day after the chamber returns from recess, according to The Block.
• At least seven non-Republican senators will need to back the motion for it to advance, The Block reported.
• The cloture filing keeps the bill on track while lawmakers continue negotiating provisions related to ethics and stablecoins, according to Cointelegraph.

The CLARITY Act aims to establish a framework for regulating digital asset markets, a long-sought goal for the crypto industry as it seeks clearer rules from Congress. The procedural step does not guarantee passage; the mid-September vote will test whether Thune can secure enough bipartisan support to move the bill forward, according to Decrypt and The Block. The outcome could shape how quickly, and in what form, comprehensive crypto market structure legislation reaches the Senate floor.

Sources: Cointelegraph, Decrypt, The Block

This article is for information only and is not financial advice.