CLARITY legislative timeline
Completed
Reported
Current stage
Pending
Procedural vote failed
The cloture vote failed, 49–50; a motion to reconsider was filed the same day.
Motion to begin consideration introduced
The Senate introduced a motion to proceed to consideration and a cloture motion.
Senate reported version released
Scott reported a substitute amendment, placed on the Senate calendar as No. 423.
Senate committee agreed to report
The Banking Committee agreed to report a substitute amendment.
Referred to Senate committee
The Senate received the bill and referred it to the Banking Committee after its second reading.
Passed by the House
The House passed the bill by 294–134 votes.
House committee consideration
The Financial Services and Agriculture Committees agreed to report the amended text.
Bill introduced
J. French Hill introduced H.R.3633 in the House of Representatives.
Key provisions of the CLARITY Act
These are proposed rules in the Senate reported version. Provisions may still change during consideration.
Asset disclosures and related-party transactions
The draft sets disclosure, exemption and related-party disposal requirements for transactions involving ancillary assets, and describes network-token characteristics. Asset definitions and transaction conditions determine which requirements apply.
Boundaries for DeFi and developers
The draft calls for intermediary and anti-money-laundering rules for non-decentralized trading protocols, while protecting qualifying node, validation and software-development activities. The key distinction is the service actually provided.
Stablecoin yield and activity rewards
The draft would restrict providers from offering U.S. users yield earned solely by holding payment stablecoins, or yield functionally equivalent to bank-deposit interest. Exceptions apply to qualifying genuine activity or transaction rewards.
Self-custody and customer assets
The draft protects self-custody for lawful purposes and adjusts how digital assets are treated as customer property in bankruptcy proceedings, affecting asset control and handling when a platform goes bankrupt.
Impact on different participants
Individual users
Watch disclosures, self-custody and customer asset protection; distinguish holding-based yield from activity rewards.
Developers and projects
Distinguish software development, network operation and intermediary services, and watch asset definitions and related disclosure duties.
Platforms and providers
Watch registration, customer asset and stablecoin reward rules, plus subsequent implementing measures.
Frequently asked questions
Has the CLARITY Act passed and taken effect?
It is not yet law. The bill has passed the House, but the Senate process remains incomplete. The provisions on this page are proposed rules, not requirements already in force.
Does the 49–50 result mean the bill was rejected?
It was not a final rejection. The vote concerned ending debate on the motion to proceed and fell short of the usual 60-vote threshold. The procedure did not advance, and a motion to reconsider was filed the same day.
When is the next CLARITY Act vote?
The Senate has not announced the next vote date. Watch whether the motion to reconsider advances and whether the Senate resumes consideration or revises the text.
Would the CLARITY Act ban all stablecoin yield?
The current Senate reported version distinguishes yield earned solely by holding payment stablecoins from rewards for genuine activity or transactions. The former would be restricted; the latter may qualify for exceptions. The bill is not yet in force.
What should individual crypto users focus on?
Start with asset disclosures, self-custody and customer asset protection. Stablecoin and DeFi users should also review the conditions covering yield, transactions and service providers.
Why do the House-passed text and Senate version differ?
The Senate committee proposed a substitute amendment. This page covers the Senate reported version dated June 1, 2026; later consideration may still change its provisions.
Official sources
- All congressional actionsH.R.3633 · 119th Congress
- Senate reported version2026-06-01 · RS
- Procedural vote No. 23449 in favor, 50 against
- Senate Rule XXIIGeneral cloture voting threshold
Latest procedural action: September 15, 2026; congressional record updated: September 17. Provisions are proposed rules.