CLARITY Act · US Senate · SEC · Bitcoin.com News
Grayscale Sees US Crypto Policy Maturing Despite CLARITY Setback
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Grayscale says the crypto industry is still making progress despite the Senate’s failure to advance the CLARITY Act to formal debate.
Key facts
- The Senate schedule had set the cloture vote for approximately 2:15 p.m
- The Senate voted against invoking cloture on the motion to proceed to H.R. 3633, the Digital Asset Market Clarity Act, according to the Senate Periodical Press Gallery
- Senate Republicans released a final version Sept. 14 containing policy changes they said Democrats requested
- The failed vote followed an intensive effort to revise the legislation before the Senate’s 60-vote procedural test
Summary
The Senate failed to invoke cloture on the motion to proceed to the CLARITY Act. Grayscale said the result was “not the outcome we hoped for” but pointed to continued regulatory work at the SEC and CFTC. The vote came one day after Republicans released a final CLARITY Act draft containing 126 changes they said Democrats requested. Grayscale is looking beyond Congress after the Senate failed Tuesday to advance the CLARITY Act to formal debate, arguing on X that the crypto industry continues to make progress through the work of federal regulators.