The CLARITY Act is facing new pressure. BankXRP, a prominent crypto commentator, flagged a report from Senate Democrats identifying 5 major loopholes in the bill.
Their concerns center on weakened SEC enforcement, anti-money laundering gaps in DeFi and crypto mixer activity, and the absence of a private right of action for investors.
The report signals that Democratic support for the legislation is far from secured ahead of the September 15 cloture vote. The bill requires 60 votes, and Senator Bernie Moreno has confirmed all 53 Senate Republicans are committed to voting yes. That still leaves a 7-vote gap that must come from across the aisle.
🚨UPDATE: CLARITY Act under fire.
Senate Democrats just dropped a report claiming 5 major loopholes in the crypto bill weaker SEC enforcement, DeFi/mixer AML gaps, and no private right of action for investors.
Also revealed: Trump made $1.4B from crypto in 2025 nearly 2/3 of… https://t.co/yQ1P4RKIWf
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) August 10, 2026
Trump’s Crypto Income Fuels Democrat Resistance
BankXRP also highlighted a figure that has become central to Democratic resistance. Trump’s 2025 financial disclosure revealed he made $1.4 billion from cryptocurrency ventures during his first year back in office. That figure represents nearly 2/3 of his total income for the year. It is reportedly the largest wealth increase ever recorded for a sitting U.S. president.
The disclosure prompted early ethics concerns and delayed the bill. While some of these have been addressed, Democrats are still pushing back. The current version of the bill bars the president, vice president, members of Congress, federal judges, and other officials, plus their spouses, from issuing or sponsoring digital assets while in office.
However, many Democrats remain unconvinced because the bill hands enforcement exclusively to the DOJ, bars state attorneys general from taking action, and does nothing to stop Trump’s existing crypto income streams through World Liberty Financial, memecoin royalties, and licensing agreements.
The 7-Vote Question
BankXRP posted that “the CLARITY Act will die on Sept 15 unless 7 Democrats vote yes,” adding that “market structure legislation now hinges on a razor-thin bipartisan margin.”
Moreno pushed back on suggestions that the bill still requires negotiation. “There is absolutely nothing to ‘iron out,’” he said. He declared that 11 months of negotiations have officially ended and that every senator will now have the opportunity to vote.
We are on X, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) June 15, 2025
Republican Unity Is Not Enough
Republicans enter September with a unified bloc. The challenge now rests entirely on converting enough Democrats. Reports suggest between 7 and 10 Democratic senators are prepared to support the bill. That range is enough to clear the threshold, but the Democrats’ new report gives holdouts additional cover to stay opposed.
The Senate returns from recess with the September 15 vote already scheduled. Senate Majority Leader John Thune filed cloture before lawmakers left, guaranteeing the bill floor time. The vote will happen. Whether it passes depends entirely on those 7 Democratic votes.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on X, Facebook, Telegram, and Google News
