Naturally, the crypto industry is urging its adoption. The common refrain online is that Clarity includes some investor protection rules and creates some structure for crypto products, whereas not passing the bill would mean there are no investor protections.
If the bill is to pass the Senate before the summer recess begins, the first thing to watch for is a motion to proceed Monday or Tuesday. This starts the formal process. If the motion is filed by Wednesday, a person who follows the process said, that would still give the Senate enough time to vote on the bill before Aug. 7, the last day of the summer session.
If the motion to move forward matures — that is, within an hour of the motion being filed, according to the nonprofit Congressional Institute — there may be a cloture vote, most likely on the amendment in the nature of a substitute (i.e., the new text of the bill). If this passes, there could be another cloture vote later to actually pass the bill.
“Playtimes are powerful tools,” Kristin Smith, president of the Solana Policy Institute, told CoinDesk.
From a practical standpoint, this most likely means the motion will pass Monday or Tuesday, two industry sources told CoinDesk, with a possible vote late next week.
