Crypto’s biggest week ever? Swarm fears prompt AI slowdown: Hodler’s Digest
Crypto’s moment of CLARITY finally arrives with a key Senate vote on Tuesday. AI swarm fears prompt development slowdown, with some predicting big falls in AI stock prices.
The CLARITY act heads for a crucial Senate vote on September 15, with Politico reporting that Democrat senators were called to a meeting on Sunday by Minority Leader Chuck Schumer to discuss their position.
While Polymarket puts the odds of CLARITY becoming law this year at just 24%, the odds of there being 60 votes in favor of the cloture vote on Tuesday are higher, as it would simply move the bill into the amendment and debate phase. That’s where the rubber would hit the road on issues that have drained support so far including ethics provisions for elected officials, stablecoin yield, and protections for decentralized developers.
The bill has now doubled in size to more than 630 pages since the first draft was released in May 2025. It follows a year’s worth of work by both Democrat and Republican senators. A new draft was released last week with 14 pages of new text directing the SEC and CFTC to determine whether those in control of “non-decentralized finance trading protocols” must comply with securities, commodities and anti-money laundering requirements. That version didn’t include any of the big changes to the ethics provisions the Democrats have demanded as a red line for supporting the bill.