Democrats Reject GOP's 'Final' Offer as Bessent Says CLARITY Act Fights 'Evasion'
Senate Republicans dismissed Democrats’ CLARITY Act counterproposal Tuesday as Polymarket odds fell back to 12% ahead of the afternoon’s cloture vote. Where Negotiations Stand Widely-followed market commentator Scott Melker posted on X that Senate Republicans dismissed the Democratic counterproposal outright, hours before the 2:15 p.m. cloture vote. Treasury Secretary Scott Bessent added pressure from the other direction, posting that the CLARITY Act gives Treasury more authority to pursue evasion. “That’s why I’m pushing it,” Bessent said. Cointelegraph reported Tuesday that Polymarket odds jumped to 35% on Sunday after Republicans released their final draft with expanded ethics provisions, then fell back to 16% as key Democrats rejected the changes. Sen. Mark Warner (D-VA) said the revised ethics provision was not “near enough.” Sen. Ruben Gallego (D-AZ) called the offer leaving “much to be desired” and worked on a counterproposal. Staff for Sen. Elizabeth Warren (D-Mass.) circulated talking points arguing that White House ethics officials could override the state AG enforcement mechanism. Not every Democrat is opposed. Sen. Kirsten Gillibrand (D-NY) privately urged colleagues to
Senate Republicans dismissed Democrats’ CLARITY Act counterproposal Tuesday as Polymarket odds fell back to 12% ahead of the afternoon’s cloture vote. m. cloture vote. Treasury Secretary Scott Bessent added pressure from the other direction, posting that the CLARITY Act gives Treasury more authority to pursue evasion.
“That’s why I’m pushing it,” Bessent said. Cointelegraph reported Tuesday that Polymarket odds jumped to 35% on Sunday after Republicans released their final draft with expanded ethics provisions, then fell back to 16% as key Democrats rejected the changes. Sen. ” Sen.
Ruben Gallego (D-AZ) called the offer leaving “much to be desired” and worked on a counterproposal. Staff for Sen. ) circulated talking points arguing that White House ethics officials could override the state AG enforcement mechanism. Not every Democrat is opposed.
Sen. Kirsten Gillibrand (D-NY) privately urged colleagues to support the procedural motion, according to Politico. Moreover, Sen. ” What Else Is Holding the Bill Back Cointelegraph also reported that eight banking trade groups say the revised text leaves stablecoin reward loopholes open, with the proposed circuit-breaker only kicking in after community banks have already lost deposits.
The Indian Gaming Association separately urged tribal members to vote no, warning the DeFi provisions threaten tribal sovereignty over gaming laws. What the Industry Is Saying Coinbase (NASDAQ: COIN ) posted on X Tuesday that the Clarity Act delivers on every priority including ethics, enforcement, and consumer protection. “Today we find out who stands for American leadership in finance and who doesn’t,” the exchange wrote. Blockchain Association CEO Summer Mersinger echoed that sentiment, urging every senator to vote yes and warning that a failed vote pushes crypto jobs and innovation overseas.
What Today’s Vote Actually Decides Melker clarified on X that today’s 60-vote cloture vote does not pass the bill. It only opens the door to debate and amendments. If opponents filibuster a second time, another 60-vote threshold applies before final passage, which needs only a simple majority. Republicans hold 53 seats, meaning they need seven to 10 Democrats to cross over just to begin debate.
Read Also: Ripple Adds Louisville to Its Kansas, Florida College Deals Photo: Shutterstock