Senate cloture vote on Clarity Act fails, dealing regulatory blow to crypto industry
- On Thursday, September 17, 2026, the Commodity Futures Trading Commission submitted a new crypto rulemaking proposal titled "Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets" to the White House Office of Information and Regulatory Affairs.
- The CLARITY Act failed in the Senate during a procedural vote on Tuesday, falling short of the 60 votes required to begin debate as Democratic negotiators cited ethics concerns regarding digital asset interests.
- CFTC Chairman Michael Selig stated the agency was "locked in and ready to ship" rules using existing authority, while the agency issued a "no-action position" on Thursday exempting passive software providers from registering as introducing brokers under ten conditions.
- Executive Order 12866 provides the White House up to 90 days to review the proposal before it returns to the Commission for a vote, with the earliest binding rule potentially taking effect in late 2027.
- Both the CFTC and the Securities and Exchange Commission have vowed to pursue rules under existing authority while negotiations over the CLARITY Act potentially continue, with seven Senate Democrats indicating discussions may persist.
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384 Articles
Crypto Clarity Act Fails 49-50: What Happens Now?
A 600-page bipartisan crypto bill died on a 49-50 Senate vote on September 15, sending Bitcoin sliding from $80,000 to $77,400. You'd think a bill that both parties worked on for months would at least make it to debate — but ethics fights over Trump's crypto holdings torpedoed the whole thing.
Crypto giants flood the Republican Party with money despite failure of the Clarity Act
In July 2024, during a crypto conference held in Nashville, Donald Trump vowed that if he returned to the White House he would turn the U.S. into the crypto capital of the world. Two years later, the largest market for digital assets still lacks a law to regulate the industry, while Europe has had one since December 2024. On Tuesday, the Senate blocked the progress of the Clarity Act yet again, citing insufficient safeguards to prevent public of…
<p>Bitcoin fell below $75,000 after the bill failed in the Senate and the Fed decision Bitcoin fell to $74,985 after the failure of the Clarity bill and the Fed's rate hike. Coinbase and Circle shares have lost to It's 20%.</p>
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