Bitcoin has already made a strong comeback in recent weeks. The Bitcoin price has risen about 20%, moving to around $80,000 from roughly $60,000 during the summer. The wider crypto market has also moved higher over the past month. The rally comes as investors remain worried about the future of the US dollar and the country’s huge debt burden.
Now, the crypto market is watching September 15. The US Senate is scheduled to hold a procedural vote on the major crypto market structure bill known as the Clarity Act. The September 15 vote is important because it could decide whether the bill moves forward in the legislative process. It is not the final vote on the bill becoming law.
September 15 vote: Why it matters for Bitcoin
Trump administration officials are pushing lawmakers to keep the bill alive. Patrick Witt, executive director of President Donald Trump’s Council of Advisers on Digital Assets, warned that time is running out to pass the legislation.
Witt said a failed motion-to-proceed vote would not give either side what it wants. He also warned that nobody knows when the bill could get another chance if the procedural vote fails, according to Semafor. Witt urged both Republicans and Democrats to support moving the bill forward while continuing negotiations. He said, “Get on the bill and let’s keep talking”, according to Forbes.
Bitcoin rally: Can the Clarity Act help?
Bitcoin investors see the Clarity Act as a possible major catalyst for the next crypto rally. Some traders believe clear US rules could make large financial institutions more comfortable investing in cryptocurrencies.
CK Zheng, a former global head of risk at Credit Suisse and now head of crypto hedge fund ZX Squared Capital, said large institutions are currently waiting for clear regulatory rules, according to emailed comments. Zheng said passing the Clarity Act could become the “ultimate catalyst” for Bitcoin and crypto. He expects institutional investors to move into the market because they may fear missing out on a new crypto bull market.
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Clarity Act: What does the crypto bill do?
The main idea behind the bill is to create clearer rules for the crypto industry. The Clarity Act would divide responsibility for crypto regulation between US financial regulators. Supporters believe this could give cryptocurrencies greater legitimacy as a financial asset class in the United States.
The bill is being strongly supported by the Trump administration. Treasury Secretary Scott Bessent has urged lawmakers to agree to the procedural vote and continue working on the legislation.
Trump crypto bill gets Treasury support
Bessent said he strongly supports keeping negotiations going and approving the motion to proceed, according to a post on X. Bessent also warned that failing to move forward with the bill would send a “troubling signal” about US leadership in the crypto industry.
New Clarity Act: What changed?
A new version of the Clarity Act was released before the September 15 vote. Republican Senator Cynthia Lummis, a major supporter of crypto legislation, published the revised bill.
Lummis said lawmakers had added more than 114 provisions requested by Democratic lawmakers. She described the new version as a strong bipartisan product, according to her statement. Lummis also argued that passing legislation would give the crypto industry a more lasting set of rules than regulations that can change when a new White House administration comes in.
Crypto bill adds new DeFi rules
The revised bill is 630 pages long. One of its important changes focuses on certain DeFi trading protocols. The bill says so-called non-decentralized finance, or non-DeFi, trading protocols would have to register with the Commodity Futures Trading Commission (CFTC). The bill would also require the CFTC and the US Treasury to create rules for these types of trading protocols.
The legislation asks US regulators to decide whether people or groups controlling these protocols should follow securities, commodities and anti-money laundering rules. The bill defines a non-DeFi trading protocol as one where its functions, operations or rules can be materially changed by a person or a coordinated group. However, a major political problem remains. The latest version has not made major changes to the bill’s ethics provisions.
Also read: Will the Clarity Act pass? Crypto firms and banks battle ahead of Senate vote
Clarity Act faces Democratic opposition
Ethics rules have become one of the biggest objections from Democratic lawmakers. The bill still gives the Justice Department the main authority to enforce conflict-of-interest rules. Democratic support is still missing. Politico reported that the latest version of the bill does not currently have Democratic support.
The bill needs at least six Democratic votes to move forward in the Senate, according to Politico. This means the September 15 vote could become a major test for the bill. If lawmakers fail to move it forward, the chances of getting the legislation passed soon could weaken.
Bitcoin price: Will the bill trigger a rally?
Prediction markets currently show low confidence that the bill will become law this year. The odds of the Clarity Act passing before the end of 2026 are around 20% on Polymarket and Kalshi. For Bitcoin, the September 15 vote could therefore be a key short-term market event. A successful procedural vote could improve investor confidence that the US will finally establish clearer crypto rules.
If the bill moves forward, investors could start pricing in the possibility of greater institutional participation in crypto. That could provide additional support to Bitcoin, especially after its recent move toward $80,000. But a rally is not guaranteed. The vote on September 15 is only a procedural step, and the bill still faces political disagreements, especially over its ethics provisions and the lack of Democratic support.
Bitcoin $400,000 target: What Coinbase CEO says
Bitcoin’s longer-term outlook could depend on whether the Clarity Act actually becomes law. Crypto investors are watching not just the September 15 vote, but whether lawmakers can reach a bipartisan agreement and complete the legislative process. Bitcoin is also facing a much bigger price target from Coinbase CEO Brian Armstrong. Armstrong told CNBC that $400,000 Bitcoin by 2030 is a “reasonable target.”
Armstrong also said he believes “the bottom is in” for Bitcoin in its latest market cycle. He sees the Clarity Act as one factor that could help support a future Bitcoin price boom, according to CNBC. A Bitcoin price of $400,000 would put Bitcoin’s total market value at about $8 trillion, compared with around $1.5 trillion currently, according to the information cited by Forbes.
The key question for September 15 is therefore simple: Will the Senate move the Clarity Act forward, or will political disagreements stop it? If the bill advances, it could give Bitcoin and the wider crypto market a fresh boost by increasing hopes for clearer US regulation and greater institutional participation. If the vote fails, crypto investors could see it as a setback for US crypto regulation. Patrick Witt has already warned that it could be unclear when the legislation would get another chance.
So, September 15 matters because it could decide whether one of the crypto industry’s biggest hopes for clearer US rules gets another step closer to becoming law — and that could determine whether Bitcoin gets another major catalyst after its recent recovery.