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Senate’s fall agenda puts crypto rules and college sports overhaul on a tight clock

Senators returning to Washington face three weeks to advance two major bills, but both must overcome bipartisan disputes and the 60-vote threshold. Democrats are seeking stronger ethics safeguards around President Donald Trump’s crypto interests, while the college sports measure would restrict transfers and cap certain payments to athletes.

The U.S. Capitol building is shown from outside, with its large dome and surrounding colonnaded wings. American flags are visible on flagpoles under an overcast sky.
The U.S. Capitol building is shown from outside, with its large dome and surrounding colonnaded wings. American flags are visible on flagpoles under an overcast sky.
WASHINGTON — The Senate is heading into a three-week legislative sprint with votes expected on cryptocurrency regulation and a sweeping proposal to reshape college athletics before lawmakers leave Washington for the midterm campaign. The first test comes Tuesday, when senators are scheduled to vote on whether to advance the CLARITY Act. The procedural vote requires 60 votes, meaning supporters will need substantial Democratic backing to overcome a filibuster and begin formal consideration of the bill. The legislation would establish a federal framework for digital currencies and tokens, dividing regulatory responsibility between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Supporters say clearer rules could protect consumers and prevent crypto businesses from moving overseas. President Donald Trump has urged Congress to approve the measure, calling it the next step after what he described as an end to the federal government’s “war on crypto.” House Financial Services Committee Chairman French Hill, an Arkansas Republican, said the House passed the CLARITY Act last summer with support from 78 Democrats. But Democrats have made ethics protections a central demand. Trump’s financial disclosure report said he earned $1.4 billion from cryptocurrency during the previous year, prompting lawmakers to seek provisions specifically addressing the president and his family’s financial interests. “The one remaining significant issue, I think, is the ethics provision,” Hill said. Sen. Adam Schiff, a California Democrat, said the bill effectively shields the president from meaningful ethical restrictions. Sen. Elizabeth Warren, a Massachusetts Democrat and the Senate Banking Committee’s ranking member, argued that the proposal was written too closely with the crypto industry’s priorities and said she could not support it in its current form. Republican Sen. Cynthia Lummis of Wyoming, a leading crypto advocate, said negotiators had expanded the bill from fewer than 300 pages to more than 600 pages over 11 months. She said the revisions included stronger consumer protections and additional ethics provisions. Warren has also raised concerns that the measure could make it easier for drug traffickers and terrorist groups to move money without a traditional paper trail. Even if the bill reaches the Senate floor, it would likely need 60 votes both to begin debate and to clear a filibuster. The timing is unusual for a major financial-regulatory bill, with the November elections approaching and the possibility of a changed congressional majority adding uncertainty to future negotiations. The Senate is also expected to hold a test vote before the end of September on a bipartisan college athletics bill sponsored by Republican Sen. Ted Cruz of Texas and Democratic Sen. Maria Cantwell of Washington. No date has been set for that vote. The proposal would limit college athletes to one transfer, cap the amount schools can spend on name, image and likeness compensation, and restrict players from leaving professional sports and then returning to college competition. Cruz said the current transfer system allows athletes to move between schools repeatedly and remain eligible for many years. Recent cases involving players moving between the NFL and college football have highlighted the unsettled rules. LSU tight end Dae’Quan Wright returned to college after short stints with the Philadelphia Eagles and Cleveland Browns. A judge cleared Wright and former Ole Miss defensive lineman Zxavian Harris to play for LSU this season. Wright said he was focused on enjoying the opportunity to play in college again. His agent, Drew Rosenhaus, said Wright returned because his NFL contract had been terminated. Cruz said the movement of former professionals into college rosters raises fairness concerns for younger athletes entering college football. Vice President JD Vance has also criticized the lack of stability in the current system, saying athletes and fan bases once had longer-term relationships. The White House has recruited former Alabama coach Nick Saban to promote the legislation. Trump also urged senators last month to remain in Washington to complete the bill, but negotiations were not finished. The measure would face another hurdle in the House, which is scheduled to return Monday but may have limited time before the midterm campaign accelerates. House Speaker Mike Johnson, a Louisiana Republican, said Congress appears ready to act but emphasized that both chambers must agree. House Democratic Caucus Chairman Pete Aguilar of California questioned whether lawmakers have enough legislative days remaining. With the Senate’s calendar compressed and lawmakers preparing to leave town, both bills could be delayed until the next Congress if negotiations fail. The outcome will depend on whether sponsors can resolve disputes over presidential conflicts of interest, consumer protections, athlete compensation and the basic rules governing college competition before the political calendar takes precedence.

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