Senate Republicans reject Democrats’ proposed changes to CLARITY Act

U.S. Senate Republicans have rejected a Democratic proposal to negotiate changes to the CLARITY Act, a crypto market structure bill, Punchbowl reported. The U.S. Senate is set to hold a cloture vote at 6:15 p.m. UTC today on whether to proceed to floor consideration of the CLARITY Act. With Republicans holding 53 seats, at least seven Democratic senators would need to vote in favor for the measure to reach the 60 votes required for passage. According to The Block, Katie Warbinton, a spokesperson for U.S. Senator Cynthia Lummis, said Republicans are not accepting Democrats’ counterproposal to revise the latest amendment to the CLARITY Act, adding the proposal appeared to mirror Democrats’ initial position at the start of the recess.