CLARITY Act needs 11 more Senate votes, but 4 of the 49 it already has want the bill changed
Story summary
Four Republican senators who voted to advance the CLARITY Act on Sept. 15 also appear as named supporters on a bank-backed amendment seeking tougher restrictions on stablecoin yield. As Punchbowl News reported on Sept. 21, John Cornyn, John Curtis, Cindy Hyde-Smith, and Lisa Murkowski all voted “Yes
📌 Key Highlights & Takeaways
- Four Republican senators who voted to advance the CLARITY Act on Sept.
- 15 also appear as named supporters on a bank-backed amendment seeking tougher restrictions on stablecoin yield.
- As Punchbowl News reported on Sept.
Four Republican senators who voted to advance the CLARITY Act on Sept. 15 also appear as named supporters on a bank-backed amendment seeking tougher restrictions on stablecoin yield.
As Punchbowl News reported on Sept. 21, John Cornyn, John Curtis, Cindy Hyde-Smith, and Lisa Murkowski all voted “Yes” on the procedural motion, which fell short 49-50 . All four also signed onto Sen. Jerry Moran's stablecoin amendment , which the banking industry has pushed as a fix to language the bill's own supporters wrote.
The Sept. 15 cloture vote needed 60 votes to succeed and got 49, with one senator not voting, leaving supporters 11 short . Losing any of the four senators identified in the amendment would raise that number.
If all four switched to “No” on a future vote, the “Yes” total would fall to 45, and the gap would grow to 15. That scenario is a hypothetical built purely from the arithmetic, since signing an amendment records a policy position on paper.
Moran and Susan Collins also appear on the amendment, and both already voted no on Sept. 15, so their positions carry no new vote-count risk. Josh Hawley voted no on Sept. 15, then joined the amendment as a cosponsor the next day.
The four senators worth watching are the ones who voted to open debate on CLARITY and separately asked for stricter language on how stablecoin issuers can reward customers .
Moran's amendment (SA 6771) targets the bill's current standard for prohibited stablecoin rewards, the phrase “economically or functionally equivalent to the payment of interest.”
It replaces that standard with broader language covering anything “substantially similar to the manner in which depository institutions pay interest or yield.” It also strikes the word “solely” from one provision entirely.
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