The CLARITY Act fell 11 votes short on September 15, with 49 senators supporting the cloture motion and 50 opposing it, needing 60 to advance. Four Republican senators (John Cornyn, John Curtis, Cindy Hyde-Smith, and Lisa Murkowski) who voted yes also signed a bank-backed amendment seeking stricter stablecoin yield restrictions. If all four defect, support drops from 49 to 45, widening the gap from 11 to 15 votes. The Moran amendment replaces the current prohibited-rewards standard with broader language covering anything substantially similar to how depository institutions pay interest. Two separate negotiations are running through the same bill simultaneously: one on stablecoin yield language and another on ethics provisions regarding public officials’ crypto financial interests.
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