The Senate holds a procedural vote Tuesday on the CLARITY Act, the crypto market-structure bill that has spent over a year in negotiation. White House crypto adviser Patrick Witt says he feels "very good" about its chances, even as banking groups and state attorneys general push back on the text hours before the vote.
Bitcoin Reacts as Prediction-Market Odds Jump
Bitcoin bounced off support near $76,400 late Sunday into Monday, rising about two percent as traders repriced the bill's chances. On Kalshi, the contract on the CLARITY Act becoming law before January 1 jumped to 43%, up roughly eighteen points from a day earlier. Polymarket's equivalent contract tells a different story: it sits at 31%, down more than a third over the past month even after Monday's news.
White House Calls the Latest Text the Final Offer
Speaking Monday at a Solana Policy Institute summit in Washington, Witt said the White House has tried to address every issue raised during Clarity Act negotiations and called the newest draft the best and final offer.
Senate Republicans led by Cynthia Lummis, John Boozman and Tim Scott released that draft on Monday, September 14, after 126 separate changes made at Democrats' request. The revised ethics language gives state attorneys general a role in enforcing conflict-of-interest rules on officials, including requiring officials and their spouses to divest significant crypto holdings or place them in a blind trust. Witt said President Trump "blessed" that language, though Senator Elizabeth Warren and other Democrats have pushed back over state prosecutors' inability to charge public officials, including the president.
The Senate needs 60 votes to advance the bill Tuesday. Witt alluded to regulators stepping in if it falls short, noting "the agencies already have tremendous rulemaking authority."
Banking Groups and State AGs Push for Changes
Eight banking associations wrote to Senate leaders John Thune and Chuck Schumer on September 14, asking for changes before the bill advances further. They argue that yield offered on stablecoins could draw deposits away from traditional banks and want language in Section 10404 narrowed to close that loophole.
Separately, New York Attorney General Letitia James said she joined 17 other state attorneys general in warning that the bill's federal preemption provisions could weaken states' ability to pursue crypto fraud. The coalition cited FBI data showing crypto fraud complaints reached $11.4 billion in losses in 2025, up 22% from 2024.
The coalition also urged Congress to preserve state registration systems and the federal-state enforcement partnership over digital assets.
Sources: The Block, Live Bitcoin News, CoinGape
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