Published • loading... • Updated
Senate cloture vote on Clarity Act fails, dealing regulatory blow to crypto industry
- On Tuesday, the Senate blocked the Clarity Act after a procedural vote fell 50-49, far short of the 60 votes required to advance the comprehensive crypto market structure legislation.
- Republican leaders released a revised version Sunday adding new ethics restrictions to address Democratic concerns, but those changes failed to resolve remaining opposition on Capitol Hill.
- Following the vote, bitcoin prices dropped 3%, while Coinbase and Circle shares slid 8% and 10% respectively; Senator Cynthia Lummis, R-Wyo., told reporters earlier that "it's over" if the procedural vote failed.
- Senators are scheduled to leave Washington in early October for the campaign recess, with midterm elections in seven weeks, while The House recesses even earlier, limiting time to revisit the bill.
- The failed vote likely forces the crypto industry to wait until next year for clearer rules, as The SEC and CFTC continue shaping policy through enforcement and rulemaking rather than durable federal statute.
Insights by Ground AI
26 Articles
26 Articles
Crypto Bill Falls Short in Early Senate Hurdle
“A cryptocurrency regulation bill failed to advance on the Senate floor Tuesday, after all Democrats and a few Republicans blocked a procedural vote,” The Hill reports. Washington Sun: Senate Democrats block cryptocurrency bill, citing lack of Trump ethics rules.
·New York, United States
Read Full Article
Coverage Details
Total News Sources26
Leaning Left4Leaning Right3Center5Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 33%
C 42%
R 25%
Factuality
To view factuality data please Upgrade to Premium
