CLARITY Act Text Delayed Again — Here Is Where Negotiations Stand With 22 Days Left

The CLARITY Act text that was expected to drop Thursday did not materialize, as President Trump met with senators at the White House Thursday afternoon in what was supposed to be the meeting that finally broke the deadlock. 

Senator Bernie Moreno of Ohio told reporters shortly before the session that updated CLARITY Act text would be released right after — but as of late Thursday night Eastern time, nothing has dropped.

Democrats Skipped The White House Meeting 

According to Politico, several Democratic senators said they were not expected to attend, and multiple others made clear before the session even began that they would not support whatever version of the bill came out of the meeting. The central reason is the same one that has blocked the bill for months — the ethics provision.

Senator Ruben Gallego of Arizona, one of the two Democrats whose votes the bill needs most, said, “They’re taking a version of the text to the president with their ethics provisions, not with anything that we agree to as Democrats,” he said Thursday. “At the end of the day, we don’t have strong ethics. I don’t care what the president says. You’re not going to have the Democratic votes.” 

Gallego reportedly described the ethics language as “very weak,” saying it gives “a lot of latitude to the president to continue doing his grift” and lacks meaningful consumer protections.

The ethics dispute centers on Trump’s own crypto holdings. His 2025 financial disclosure revealed more than $1.4 billion in crypto-related income — including hundreds of millions tied to the TRUMP memecoin and World Liberty Financial (WLFI) — which has hardened Democratic demands for enforceable language barring government officials and their families from profiting off digital assets. 

Republicans have pushed back on the framing. Moreno insisted Thursday that the CLARITY Act contains “the strongest ethics provision of any piece of legislation ever passed by any Congress” — a claim Gallego’s comments suggest Democrats do not accept.

The CLARITY Act’s Vote Count Today

Beyond ethics, two other disputes remain unresolved. The stablecoin yield provision — which 78 banking groups warned last week could allow stablecoins to function as deposit substitutes and drain community banks — has not been settled. 

The Blockchain Regulatory Certainty Act (BRCA) provision, which shields non-custodial software developers from being classified as money transmitters, remains contested despite three law enforcement organizations shifting their stance toward the CLARITY Act this month.

The math hasn’t changed. Although Republicans hold 53 Senate seats, Senators Josh Hawley and Rand Paul are expected to vote against the bill. That means the bill needs between seven and nine Democratic votes to clear the 60-vote threshold required to overcome a filibuster. 

Without Gallego, Alsobrooks, and at minimum five other Democrats, the CLARITY Act does not pass — and Gallego made clear Thursday that the current text does not get him there.

August 7 is the last day the Senate meets before the summer recess. Moreno acknowledged Thursday that “it’s time for a vote now” — but with no text released, no Democratic agreement on ethics, and the clock running, the path from here to a signed bill is narrowing with every day that passes.

Featured image generated with OpenArt.