But there are other outstanding issues. Law enforcement provisions are still being debated, some agriculture-related issues are being worked out, and recently, a growing number of lawmakers have expressed concerns about stablecoin yield and rewards.
These issues mean that if a vote were held, it very well may have failed. The GENIUS Act fell short in a vote before it passed the Senate as well, so it’s not as if a failed motion to proceed or initial cloture vote would spell the end of Clarity. The timing, however — three months out from an election and just as lawmakers prepare to break for over a month — would have severely harmed the bill’s ultimate chances of passage.
What those chances look like now depends on who you ask. Senator Angela Alsobrook said in a statement shared with CoinDesk that the goal remains to get the bill passed.
“We’ve worked for over a year on a bipartisan basis to protect consumers, limit deposit flight, fight illicit finance and include a fair deal on ethics,” she said in the statement. “We will continue our work — getting Clarity Act right remains our goal.”
Senator Cynthia Lummis similarly said in a statement posted online that “we’ve come too far to quit now.”
