← Back to KHAO

CLARITY Act · US Senate · US Congress ·

Crypto Clarity Act flames out in faltered U.S. Senate vote

2 min read

Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.

✓ KHAO Verified

The U.S. Senate voted against the Clarity Act, defeating the crypto industry's top policy goal. (Jesse Hamilton/CoinDesk)

The Digital Asset Market Clarity Act failed to survive the politics of the U.S. Senate on Tuesday as a 49-50 vote meant to start the bill toward passage fell far short in rounding up the 60 supporters required to advance.

Key facts

Summary

The crypto Clarity Act failed to get the 60 votes needed to advance in the U.S. Senate after months of intense negotiations led to a 49-50 vote that didn’t manage to even win a majority. In the absence of market structure law, the industry will be focusing close attention on the federal regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission, that are already at work on crypto rules. The Digital Asset Market Clarity Act failed to survive the politics of the U.S.

The setback for the crypto industry's top policy goal potentially sends the process back to the drawing board unless some long-odds maneuvers develop in the final weeks of the congressional session after November's midterm elections.

#US Congress #US Senate #CLARITY Act