Clarity Bill Final Draft Faces Growing Opposition Ahead of Senate Vote

Banking sector, Democratic lawmakers, state attorneys general, and developer groups are increasingly opposing the finalized Clarity Act draft released by Republican senators. CryptoSlate reported that within hours of Republicans releasing the final version incorporating 126 substantive changes Democrats had requested, opposition to key provisions emerged.

AP reported that President Trump has agreed with significant portions of the ethics provisions in the bill, including restrictions on virtual assets for federal officials and their spouses, as well as state attorneys general's enforcement powers. However, Block reported that New York Attorney General Letitia James, alongside 17 bipartisan state attorneys general, has called for opposition to the legislation.

The banking sector argues that stablecoin provisions could threaten local bank deposits, demanding additional restrictions, while developer groups have raised concerns about protections for developers within the bill. Republicans plan to move forward with a cloture vote on Thursday to conclude debate, requiring at least seven Democratic or independent votes in addition to all 53 Republican seats for passage.