Senate

Senate Republicans on September 14 released the ‘final draft’ of the long-pending Clarity Act for digital assets, while the White House confirmed that President Trump has accepted most of the bill’s ethics provisions. The new draft makes significant adjustments to digital-asset classification, the allocation of regulatory authority between the SEC and CFTC, stablecoin reserve requirements and disclosure of conflicts of interest. Industry analysts say the release breaks a multi-month stalemate that had previously been described by industry observers as a Schrödinger-style legislative limbo, and could clear the path for a full Senate vote in the coming weeks.

CoinDesk reported on September 13 that as the U.S. Senate returned from summer recess, the Crypto Clarity Act still lacks a clear schedule for advancement in the Senate. The bill has already passed the House, but the Senate remains significantly divided over core provisions on digital-asset classification, the allocation of regulatory authority and stablecoin reserve requirements. Several industry observers have described the bill as being in a Schrödinger-style state of simultaneous life and death, stressing that until the Senate majority leader signals that it will be placed on the priority agenda, the bill’s ultimate fate remains highly uncertain.

Texas Attorney General Ken Paxton defeats incumbent Senator John Cornyn in a Republican primary upset, signaling a MAGA-aligned shift in the party.

Senate Takes Historic Step on Iran War Powers The US Senate has advanced a resolution to limit President Trump’s military action authority against Iran, marking the first time the chamber has moved on such a measure. Four Republican senators broke ranks to support the resolution, highlighting growing intra-party divisions over Iran policy. Key Developments: The Senate voted to take up legislation that would force Trump to end military operations in Iran Louisiana Republican Senator Bill Cassidy flipped to support the measure This is the first attempt by Congress to legislatively constrain presidential war powers regarding Iran Political Significance: ...

TD Cowen raised the bill’s passage probability to 40% from 33%, but Benchmark says the Clarity Act needs more Democratic support to advance.

Gunfire erupted in the Philippine Senate building on May 13 as police attempted to arrest a senator, triggering a lockdown. All personnel were ordered to remain in safe areas. The incident shocked Philippine politics. The targeted senator faces multiple charges, and armed resistance was reported during the arrest attempt. Heavy police reinforcements were deployed to the area following the exchange. Casualties remain unconfirmed. The presidential palace has not issued an official statement. Analysts warn the incident could intensify political tensions within the Philippines. ...

[Flash] Senate Banking Committee Sets Date for Sweeping Crypto Legislation Vote The US Senate Banking Committee has announced it will hold a markup hearing vote on comprehensive crypto market structure legislation. This marks the committee’s second attempt to advance the bill, signaling a critical phase in the development of US crypto regulatory framework. Markets expect the legislation to have significant implications for the cryptocurrency industry once passed. Source: CoinDesk, The Block ...

Veteran Senator Sherrod Brown won the Democratic Senate nomination in Ohio, setting up a key battleground Senate race.