- Senate leaders released a final CLARITY Act draft on Sep 14 ahead of a Tue Sep 15 cloture vote on taking up H.R. 3633.
- Sponsors say the text adds ethics rules, a Treasury stablecoin deposit-flight tool, and developer safe-harbor language.
- Cloture on the motion to proceed is not final passage. The House-passed bill is not yet law.
September 15 (Crypto-News.Net) – U.S. Senate leaders released what they call a final draft of the Digital Asset Market Clarity Act on September 14, 2026, two days before a scheduled procedural vote on whether the chamber will take up the House-passed bill.
Sens. Cynthia Lummis (R-WY), John Boozman (R-AR), and Tim Scott (R-SC) said the text reflects more than a year of bipartisan talks and includes 126 substantive changes requested by Democrats. Senate floor schedules state that cloture on the motion to proceed to H.R. 3633, the Clarity Act, is set to ripen on Tuesday, September 15, 2026, at 2:15 p.m. Invoking cloture would end debate on starting formal consideration. It would not, by itself, pass the bill or send it to the president.
What sponsors say is in the final draft
According to the joint statement from Lummis, Boozman, and Scott, the draft adds ethics language that reflects substantially all of a Tillis-Gallego ethics proposal and gives state attorneys general a role in enforcement. Lummis said President Donald Trump agreed to ethics restrictions that would cover federally elected officials, judges, and their spouses. That claim is attributed to Lummis. This report does not include a separate White House confirmation document.
The sponsors also said the draft gives the Treasury secretary new authority to limit deposit flight linked to payment stablecoins, describing the tool as a circuit-breaker meant to protect community banks and the farms and small businesses that rely on them. They said the text revises Blockchain Regulatory Certainty Act language to shield software developers from money-transmission registration requirements and to create a civil safe harbor.
On Agriculture Committee provisions, the statement said the draft adds guardrails on affiliate trading and conflicts of interest, clarifies how state consumer-protection laws apply, and protects software developers without changing derivatives rules or existing Commodity Futures Trading Commission authority.
If cloture on the motion to proceed is invoked Tuesday afternoon, Lummis, Boozman, and Scott said this legislative text would be offered as an amendment in the nature of a substitute.
Bill status and what Tuesday’s vote decides
Congress.gov lists H.R. 3633 as the Digital Asset Market Clarity Act, sponsored in the House by Rep. French Hill (R-AR). The tracker shows the measure has passed the House. The latest Senate action recorded on the bill page is an August 8, 2026, cloture motion on the motion to proceed, matching Congressional Record material from Majority Leader John Thune’s floor actions that day.
A Congressional Research Service-style summary on Congress.gov describes the measure as creating a market-structure framework for digital commodities, with the CFTC generally overseeing digital commodity exchanges, brokers, and dealers and the Securities and Exchange Commission retaining defined roles. Related Crypto-News.Net coverage of SEC and CFTC token taxonomy work has tracked how the two agencies draw lines around digital assets. The Senate substitute, if offered, may still differ from earlier House and committee versions.
Tuesday’s cloture threshold under usual Senate practice is 60 votes. As of this writing, neither chamber has recorded final Senate passage of H.R. 3633, and the bill is not law. A failed cloture vote would leave the motion to proceed unresolved. A successful cloture vote would open the path to debate and later amendment and passage votes, not automatic enactment.
Lummis argued that rejecting the package would block ethics limits on officials’ digital-asset holdings and leave U.S. market structure unresolved while other jurisdictions move ahead. Those points are political arguments from a lead sponsor, not independent findings.
Sources
https://www.lummis.senate.gov/press-releases/lummis-boozman-scott-release-final-clarity-act-text/
https://www.dailypress.senate.gov/thursday-september-10-2026/
https://www.congress.gov/bill/119th-congress/house-bill/3633
https://www.congress.gov/119/crec/2026/08/07/172/130/CREC-2026-08-07-pt1-PgS4557-8.pdf
