US Senate to Vote on CLARITY Act as Crypto Legislation Moves Forward
Senate schedules Tuesday vote for CLARITY Act
The United States Senate is scheduled to hold a significant vote on the CLARITY Act on Tuesday, September 15, 2026. This legislation aims to provide a clear regulatory framework for the cryptocurrency industry after more than a year of bipartisan development.
The bill has grown to over 630 pages as lawmakers attempt to address complex issues such as ethics rules for elected officials, protections for developers, and rules for stablecoins. Stablecoins are digital assets designed to maintain a steady value, often pegged to a currency like the U.S. dollar.
Key points regarding current crypto developments
- A crucial Senate vote on the CLARITY Act is set for Tuesday to move the bill into the debate phase.
- Blockstream has officially refused to pay a 10% ransom to hackers who stole Bitcoin from the Liquid Network.
- Robinhood reported that its crypto trading volume increased by 61% in August.
- Reports suggest North Korea is hiring remote workers from other countries to help fund its weapons programs.
Senator Lummis announces agreements on bill text
Senator Cynthia Lummis stated that the White House has agreed to include language that allows state Attorneys General to play a role in enforcing the bill. This development was reportedly a key demand from Democrats who wanted broader oversight of the executive branch.
A new 635-page version of the bill also includes 14 pages of text regarding non-decentralized finance protocols. It instructs the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to determine if these platforms must follow anti-money laundering and securities laws.
Reports on political meetings and market predictions
According to Politico, Democratic senators were called to a meeting on Sunday by Minority Leader Chuck Schumer to discuss the party's official stance on the bill. President Donald Trump also reportedly met with advisors last week to discuss potential ethics curbs on his crypto interests.
While some commentators, such as Carl Higbie from NewsMax, have speculated that the bill's passage could lead to trillions of dollars flowing into the market, these remains unconfirmed predictions. Polymarket, a platform where users bet on the outcome of events, currently puts the odds of the bill becoming law this year at 24%.
Confirmed developments for Blockstream and Robinhood
Bitcoin infrastructure firm Blockstream has rejected demands from hackers to pay a bounty for the return of stolen funds. The hackers previously drained 4,000 Bitcoin from the Liquid Network but returned 3,400 of them, demanding a 10% payment for the remainder. Blockstream described the incident as theft rather than ethical hacking.
In the brokerage sector, Robinhood saw its crypto trading volume reach $17.5 billion in August. Much of this growth was attributed to Bitstamp, which Robinhood acquired earlier. Analysts from Bernstein also projected that Robinhood Chain, a Layer 2 network—which is a secondary system built on top of a main blockchain to make it faster—could generate $160 million in annual fees by 2028.
Uncertainty over bill passage and security warnings
There is still significant uncertainty regarding whether the CLARITY Act has the 60 votes required to pass the initial cloture vote. Additionally, a disagreement exists regarding the security of the Liquid Network; a member of the Bitcoin Red Team claimed Blockstream ignored warnings about vulnerabilities, a claim that Blockstream's Samson Mow has denied.
There are also reports from NBC that North Korea is using remote workers from countries like Iran and Lebanon to infiltrate American companies. These workers reportedly aim to secure funds for the country's weapons programs.
Why the CLARITY Act matters for regulation
The passage of the CLARITY Act would represent a major shift in how digital assets are governed in the United States. It could resolve long-standing disputes over which government agencies have the power to regulate different types of crypto activities and provide more certainty for businesses and developers operating in the space.
Scheduled cloture vote and debate timeline
The Senate is expected to hold a cloture vote on Tuesday. If successful, this would allow the bill to move into the amendment and debate phase. This is where lawmakers will likely argue over the most controversial sections, including yield on stablecoins and the level of decentralization required for developers to be exempt from certain rules.
