The CLARITY Act faces a crucial Senate vote next week as lawmakers work to secure the 60 votes needed to move the legislation forward. Republicans released an updated version of the bill on Thursday ahead of the Senate’s return from recess.

The latest draft of the Digital Asset Market CLARITY Act introduces changes to provisions covering decentralized finance (DeFi) and traditional financial institutions involved in digital assets. However, the revised text is not yet viewed as a final bipartisan compromise, leaving uncertainty over whether it can attract enough Democratic support.

The new version includes additional requirements for certain DeFi activities while retaining much of the framework included in earlier drafts. It also seeks to establish clearer rules governing digital asset markets and the roles of federal regulators.

Senator Cynthia Lummis said more than 114 provisions sought by Democrats had been incorporated into the latest text. She argued that legislation would give the crypto industry greater long-term certainty than relying on regulations from agencies such as the CFTC and SEC.

The revised bill also outlines circumstances under which DeFi platforms could face CFTC registration and Bank Secrecy Act requirements. The provisions are focused on spot-market transactions involving digital commodities rather than prediction markets. The draft additionally provides greater clarity for credit unions seeking to participate in digital-asset activities.

Despite the changes, the legislation still faces significant political obstacles. The Senate is expected to hold its cloture vote on Tuesday, Sept. 15, and passage of the procedural motion will require 60 votes, making bipartisan support essential.

Democratic lawmakers remain concerned about ethics provisions involving President Donald Trump and other senior officials and their potential financial interests in the crypto industry. Some Democrats have indicated that progress on an agreement addressing those concerns is necessary before they will support the legislation.

Republican Senator Thom Tillis said the White House needs to become more involved in negotiations over the issue. At the same time, some Republicans remain hesitant about other parts of the bill.

Stablecoin rewards and yield programs have emerged as another point of contention. The American Bankers Association, Independent Community Bankers of America and 77 state banking associations recently called for stronger restrictions on such programs.

Administration officials have continued urging lawmakers to advance the bill. White House crypto adviser Patrick Witt encouraged senators from both parties to support the procedural vote, while Treasury Secretary Scott Bessent warned that failing to advance the legislation could weaken U.S. leadership in digital assets and reduce the country’s ability to respond to national-security risks involving crypto.

The crypto industry is also pressing lawmakers to act. Cody Carbone of the Digital Chamber urged the Senate to continue the legislative process, describing the proposal as the product of years of bipartisan negotiations.

The Sept. 15 vote could therefore determine the CLARITY Act’s immediate trajectory. Even if the bill clears the procedural hurdle, disagreements over DeFi rules, stablecoin rewards, ethics requirements and other provisions are likely to keep negotiations active as lawmakers work toward a final agreement.