US Crypto Bill Requires 60 Votes in Initial Ballot: What Do the 126 Amendments Entail?
US Senate Republicans have released the final draft of the Clarity Act, featuring 126 amendments, ahead of the critical vote on September 15.
According to an announcement from Republican senators including Cynthia Lummis, John Boozman, and Tim Scott, the new text incorporates 126 substantive changes requested by Democrats. The new draft outlines rules regarding stablecoin rewards, registration requirements for software developers, and conflict-of-interest rules for public officials linked to crypto.
The draft envisages granting the Treasury Secretary the authority to apply an 18-month circuit breaker on reward programs if payment stablecoins lead to significant deposit outflows from community banks. This regulation is designed as a temporary measure against banks’ concerns regarding deposit loss. While the text limits platforms from paying interest on idle stablecoin holdings, it continues to permit rewards given in exchange for usage.
Crypto Transaction Restrictions Coming for Public Officials
The new draft establishes crypto-related ethics and conflict-of-interest rules for the president, vice president, members of Congress, other public officials, and their spouses. According to reports from the Associated Press, Donald Trump has accepted most of these provisions at a time when he and his family are under political pressure regarding activities linked to World Liberty Financial, USD1, and TRUMP memecoins.
Trump’s reporting of more than $1.4 billion in income from crypto-linked activities in 2025 intensified conflict-of-interest debates during the administration’s rule-making process for the sector. The draft does not include similar restrictions for the children of public officials.
The text also narrows the money transmitter registration requirement for certain software developers and provides a civil safe harbor for some developers. The draft, which includes limits on affiliate transactions and conflicts of interest under the Agriculture Committee’s jurisdiction, also clarifies when state consumer protection laws will be applied.
60 Votes Needed for the Clarity Act
The first test for the bill will be the cloture vote scheduled for September 15. This procedural vote requires 60 votes to initiate the discussion process. Even if all 53 Republican seats in the Senate are cast in favor of the bill, support from at least seven Democrats or independent senators is needed for the bill to move forward.
Even if cloture is granted, the process will not be complete. There are only a few working weeks left for the discussion of amendments, the final vote, and the bill’s proceedings in the House of Representatives. Following the release of the new text, the probability of the bill passing this year rose from 22 percent to 32 percent on the Polymarket prediction market.