THE BLOCK: After months of talks, the Clarity Act is headed to its first Senate vote Tuesday, but disputes over ethics, stablecoin incentives, and developer protections persist

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The Clarity Act reaching an initial Senate vote is a meaningful U.S. regulatory catalyst for crypto, but the uncertain vote count and unresolved disputes around ethics, stablecoin rewards, and developer protections keep near-term policy clarity in question. The news can influence risk appetite via shifting expectations for compliance burdens and market structure outcomes, with volatility likely around legislative headlines rather than a clear directional impulse.
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THE BLOCK: Following months of negotiations, the Clarity Act is set for an initial Senate vote on Tuesday. The newest draft has not resolved key flashpoints, including provisions on ethics, stablecoin-related rewards, and protections for developers. Vote counting remains unsettled, and it is still uncertain whether Republicans have enough support to advance the bill. Here's the latest on where matters stand: