Senate cloture vote on Clarity Act fails, dealing regulatory blow to crypto industry
- The U.S. Senate failed a cloture vote on the 600-page Clarity Act, a bill designed to regulate cryptocurrency and clarify federal oversight by the SEC and CFTC, with 50 votes for and 49 against, falling short of the 60 needed to proceed.
- The Clarity Act had passed the House with bipartisan support but faced opposition in the Senate mainly due to Democratic concerns over ethics provisions aimed at blocking President Trump and his family from profiting from cryptocurrency.
- The bill's failure increases uncertainty in the crypto industry, delaying regulatory clarity and potentially slowing investment and acquisitions while regulation efforts revert to agency rulemaking by the SEC and CFTC.
- Industry leaders like Coinbase CEO Brian Armstrong remain hopeful for regulatory clarity either through Senate approval or upcoming rulemaking by the SEC and CFTC, signaling an end to regulatory uncertainty in U.S. crypto markets.
428 Articles
428 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…
US Fed Rate Hike Rocks Thailand: Baht Drops and Gold Slips
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