Last week, CoinDesk reported that individuals familiar with the Clarity Act negotiations expect a new draft of the bill to circulate this week. The updated bill text will combine the different versions from the Banking and Agriculture Committees and include some 70 additional pages, sources told CoinDesk. What it will not include, as of press time, is an ethics provision or agreements on some of the remaining contentious issues in the Clarity Act, meaning it’s not yet ready for a vote.
The rest of this newsletter is going to be conjecture and speculation. Senate Majority Leader John Thune told Punchbowl News last month he was willing to put the bill up for a floor vote in July. Rumors suggest the bill may go to the Senate floor during the week of July 20 or July 27.
If a vote is announced, there will likely be a full-court press to try and make sure it has at least 60 votes in the Senate, meaning at least seven Democrats will need to be willing to support the bill — more, if any Republicans vote against it or are unable to make it to the vote.
Expect organizations like Stand With Crypto to say they’ll score the vote, and the industry to make note of the hundreds of millions of dollars the crypto political action committees have on hand.
