Senate Democrats are discussing a separate amendment to respond to the final CLARITY Act proposal unveiled by Republicans ahead of a key procedural vote on the bill.

Eleanor Terrett, host of Crypto in America, said Democratic senators plan to meet on September 14 to coordinate their strategy on the CLARITY Act and a counterproposal to the Republican measure.

Republicans released revised legislative text late the previous night that incorporated many Democratic demands, calling it their "last, best and final offer."

But Democrats' preparations for a separate amendment raise the prospect that bipartisan negotiations will continue until just before the vote.

The Senate is scheduled to hold a procedural vote at 2:15 p.m. on September 15 on whether to begin formal consideration of the CLARITY Act.