News linked to both this project and an event.
Odaily News: U.S. Democratic Senator Elizabeth Warren stated that she still hopes to push a crypto regulatory bill into law, but does not support the current version of the Clarity Act.Warren said the Clarity Act is Washington's first opportunity to achieve "meaningful crypto regulation," but any bill must include several core elements: regulating public officials' crypto investments, protecting national security and consumers, and strengthening the fight against illicit finance and terrorist financing.Her stance could become more critical next year. If Democrats regain control of the Senate after the November election, Warren could become chair of the Senate Banking Committee, one of the key bodies for digital asset regulatory legislation. The article notes that Kalshi prediction markets currently show a 52% probability of Democrats retaking the Senate.When asked whether she would lead crypto legislation if she headed the Banking Committee, Warren said she would be willing. She said she is willing to sit down with Democrats, Republicans, and the industry to craft a crypto bill that protects national security, protects the economy, and reduces corruption.
The U.S. Senate failed to pass the Digital Asset Market Clarity Act, receiving only 49 votes in support. The bill was primarily stalled due to disagreements between the two parties over ethical restrictions on President Trump's crypto holdings. Republicans accused Democrats of refusing to compromise, and negotiations ultimately broke down.
The Clarity Act failed after falling short of 60 Senate votes. Industry executives noted that it does not alter the long-established regulatory trajectory, but warned that the lack of a statutory foundation will heighten uncertainty and could accelerate corporate migration to markets such as the EU.
Odaily News: A Fox Business crypto reporter posted on X that Clarity Act author @SenLummis is lobbying for a vote, calling on Democrats to vote to advance the bill after Republicans made major concessions on ethics rules and other provisions. The reporter said that, according to their previous post, bipartisan negotiations appear to have suddenly ended.
According to The Block, Katie Wobadden, spokesperson for Senator Cynthia Lummis, stated that the Democrats' amended counterproposal for the latest version of the Clarity Act is identical to their pre-recess position, leading Republicans to reject it. Wobadden noted that Republicans have already made significant concessions on multiple fronts, including agreeing to nearly the entire Tillis-Gallego ethics framework, while Democrats "have not budged," and called on them to engage in substantive negotiations.
Odaily News: The Trump administration is lobbying Senate Republicans to advance the crypto market structure bill, the Clarity Act. Chris Phelan, Chairman of the White House Council of Economic Advisers, said officials will launch an interactive tool on Tuesday that allows users to set their own parameters and run scenarios to verify that there is no substantive relationship between stablecoin growth and community bank deposit flight.Banking groups say the latest revisions to the bill's text are still insufficient for them to accept the stablecoin provisions. The bill needs at least 60 votes to advance, and the Senate is scheduled to hold a procedural vote on Tuesday afternoon. Several Republicans, including Texas Senator John Cornyn, have hinted they may vote against it, while pro-crypto Democrats have expressed dissatisfaction with the latest text's limited constraints on President Trump. Patrick Witt, Executive Director of the White House Council on Digital Assets, said the bill has incorporated measures to protect community banks.
Odaily News: Moonrock Capital founder Simon Dedic posted on X, stating: "The Senate vote on the Clarity Act is expected to take place in about 10 hours. Democrats have already rejected the Republican-drafted bill on the pretext of so-called 'ethics concerns' (eThIcS cOncErNs); the predicted odds on Polymarket have collapsed, and the market has fully priced in expectations of failure. Regardless of the outcome, however, I am very much looking forward to this vote. It means we can finally turn the page and shift our energy to far more important matters. If the bill fails to pass, we will instead get equally strong pro-crypto regulatory policy from the SEC; and if even that doesn't happen, then the responsibility for watching the U.S. hand over its leadership in frontier finance and sit idly by as the world's most dynamic companies move offshore will rest entirely on the Democrats. Politics is tiresome, but America is not so foolish as to let that situation happen. So what must come will come, and we will ultimately prevail."
According to a report by Eleanor Terrett, an increasing number of U.S. Senate Democrats are open to supporting the Clarity Act, but remain dissatisfied with the current ethics provisions. Some Democratic senators who previously supported sending the bill to committee have yet to take a clear stance, as they had expected stronger ethics clauses to be added before a floor vote. The report noted that Senator Kirsten Gillibrand is encouraging colleagues to vote to advance the bill and continue discussions during the full Senate session.
U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins expressed support for the CLARITY Act to establish a regulatory framework during the hearing, while emphasizing that the SEC will still proceed with its planned crypto asset rulemaking even if the bill fails to pass.
Odaily News: Coinbase posted on X platform, calling on users to urge senators to vote in support of Clarity.
According to an analysis by Jiangzhuoer (@Jiangzhuoer2), CEO of Litecoin Pool, after Republicans released a new draft of the Clarify Act claiming concessions on 80% of the disputed provisions, Polymarket's passage probability rose accordingly from 14% to 28%. Upon closer inspection, however, the actual concession rate is around 60%, with only partial compromises made on key provisions. Under the ethics clause, the new draft expands restrictions to officials and their spouses but still excludes children and affiliated entities, a move criticized as having limited practical impact; regarding the enforcement clause, while it allows state attorneys general to sue exchanges for listing non-compliant tokens, it explicitly bars suing the Department of Justice for regulatory inaction or the President directly. Jiangzhuoer believes that Democrats lack any incentive to "hand Trump a gift" ahead of the midterm elections, making it unlikely they would endorse this "fake compromise." Consequently, the prospect of the procedural vote passing at 2:15 AM Beijing Time on September 16 is slim, and a failed vote on the Clarify Act could mark the beginning of a correction in the current BTC uptrend.
According to The Block, Bernstein analysts indicated that Senate Republicans' progress on the Clarity Act may surpass market consensus expectations. The Republican proposal has been finalized, incorporating 126 substantive amendments put forward by Democrats. President Trump has also endorsed most measures within the bipartisan ethics framework, including granting enforcement authority to state attorneys general. Bernstein pointed out that the crypto market currently holds a pessimistic view toward Tuesday’s procedural vote, with "any upside surprises not yet priced in." The probability of the bill's passage on prediction market platform Kalshi has climbed back above 30%. Analysts cautioned that a failure to pass the legislation, combined with hawkish remarks from the Federal Reserve, could trigger a "significant pullback" in markets. However, even if the bill fails, it will accelerate SEC and CFTC crypto regulatory rulemaking rather than derail broader regulatory efforts.
US Senate Republicans released the latest version of the Clarity Act (Digital Assets Market Clarity Act), adjusting compliance requirements for DeFi entities and credit union provisions. Due to a lack of consensus on ethical protocols, Democrats have expressed reservations, leaving the bill's path to passage uncertain.
According to CNBC, Coinbase CEO Brian Armstrong stated that the Clarity Act, aimed at clarifying the regulatory jurisdictions of the SEC and CFTC over digital assets, has garnered support from multiple senators and is expected to be voted on by the Senate on September 15. He also noted that even if the bill fails to pass, both the SEC and CFTC have indicated they will proceed with rulemaking, and regulatory clarity "will arrive regardless." On the business front, Coinbase is actively advancing its diversification strategy, expanding its trading operations into stocks, commodities, and foreign exchange, with non-trading revenue encompassing stablecoins and institutional custody services. The company reported second-quarter revenue of $1.2 billion, down year-over-year, and a net loss of $359.5 million, remaining below market expectations for three consecutive quarters. Year-to-date, Coinbase stock has declined by approximately 23%.
U.S. Securities and Exchange Commission Chair Paul Atkins stated that the "crypto asset regulation" proposal is one of the most historic initiatives thus far to solidify the United States' position as the "global crypto capital," and noted that it aligns with his stance supporting Congress submitting the Clarity Act to the President for signature.
Odaily News - U.S. President Donald Trump and his family have caused investors at least $4.7 billion in losses through digital asset projects since 2022. Consumer rights advocacy nonprofit Public Citizen stated that the related projects include the World Liberty Financial governance token, NFT trading cards, Official Trump (TRUMP), and Trump Media's digital asset reserve.Among these, TRUMP investors lost approximately $3.2 billion, while USD1 stablecoin investors did not suffer significant losses. Public Citizen noted that the losses from TRUMP primarily reflect a transfer of wealth to a small number of early buyers, rather than funds disappearing outright. Donald Trump also earned $7.2 million from NFT licensing fees and royalties, as well as over $600 million from World Liberty token sales and equity sales.Public Citizen also called for adding ethical standards to the Digital Asset Market Clarity Act (CLARITY Act), requiring the U.S. President and his family to withdraw from related industry projects. Trump met with crypto company executives last week and called for passing a "fair version" of the bill. The Senate is scheduled to vote on a procedural motion on September 15, and advancing the bill requires support from at least 60 senators. (Cointelegraph)
Odaily News - Investment manager Lawrence Lepard, author of The Big Print, stated that even if the CLARITY Act (Digital Asset Market Clarity Act) passes the Senate with 60 votes, stablecoin demand will not be sufficient to improve the current state of the U.S. Treasury market.He noted that the current stablecoin market cap stands at approximately $255 billion, primarily backed by U.S. Treasuries purchased by Circle and Tether, down from $263 billion in January. The U.S. Treasury needs to roll over more than $8 trillion in debt annually, with stablecoins covering only about 3% of that amount.In 2025, the share of U.S. debt held by foreign entities has dropped to 32%, down from 57% after the financial crisis. Coinbase Chief Policy Officer Faryar Shirzad stated that dollar-backed stablecoins could convert overseas demand for digital dollars into demand for U.S. Treasuries. (Bitcoin.com News)
Odaily News: The Bank Policy Institute (BPI), an organization representing major banks including JPMorgan, Bank of America, Wells Fargo, and Citi, has proposed that the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) expand Customer Identification Program (CIP) requirements to stablecoin secondary markets, covering exchanges and other platforms that establish direct account relationships with retail customers.BPI stated that relevant exchanges and platforms handle a substantial volume of purchasing and selling activity within the payment stablecoin ecosystem, and that the majority of stablecoin-related illicit activity occurs in this space. Should the proposal be incorporated into the rules, affected platforms would be required to collect customer information under the Bank Secrecy Act, and decentralized exchanges could also fall within the regulatory scope.FinCEN's proposed rule notes that secondary market transactions of stablecoins on the blockchain typically involve anonymous or pseudonymous identities, with no centralized node collecting identity information, and that issuers have limited ability to gather customer data from secondary markets. BPI has also joined other banking organizations in opposing the current version of the Digital Asset Market Clarity Act. (Bitcoin.com News)
Odaily News: Coinbase CEO Brian Armstrong stated that the U.S. Digital Asset Market Structure Clarity Act (CLARITY Act) is expected to receive more than 60 votes of support in the U.S. Senate by September 15, and he is confident it will pass the first key procedural vote after Congress reconvenes.Brian Armstrong previously stated that the CLARITY Act has entered its final advancement phase, and the Senate procedural vote requires 60 votes of support to move the bill forward. The bill aims to establish a U.S. digital asset regulatory framework, clarifying the division of responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in overseeing crypto assets. Armstrong believes that regulatory clarity for the U.S. crypto industry is approaching—whether through the eventual passage of the CLARITY Act or through regulatory agencies advancing administrative rules, the market will see a more defined regulatory environment.Previously, former U.S. President Donald Trump also called on Congress to push for the CLARITY Act's passage, arguing that the bill is crucial for establishing a digital asset regulatory framework and enhancing the competitiveness of the U.S. crypto industry. reuters.com However, the bill still faces disputes from some lawmakers over issues such as conflicts of interest and stablecoin regulation, and whether it can ultimately be enacted depends on further negotiations in the Senate. (CoinDesk)
Odaily News: US Commodity Futures Trading Commission (CFTC) Chair Michael Selig said on Thursday that even if Congress fails to pass the Clarity Act, the crypto industry will eventually see market structure regulatory rules. Selig stated that establishing a market structure is very important, which can be achieved either through the formulation of regulatory rules or through legislation. The CFTC is weighing a series of potential cryptocurrency rules and is still awaiting progress on the Clarity Act. The bill, which would grant the CFTC primary authority over the digital asset industry, is currently deadlocked in the Senate and is scheduled for a procedural vote in mid-September. However, it remains highly contentious and may struggle to secure enough votes before lawmakers shift their focus to the November midterm elections. Selig added that legislation is the most reliable way to define the crypto market structure, but the CFTC also holds considerable power under existing regulations; if it needs to exercise that power to set rules without supporting legislation, the CFTC will do so.