Senate Blocks Clarity Act, Likely Killing It for 2026
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In a blow to the digital asset industry, lawmakers blocked the landmark crypto legislation.
Key facts
Bitcoin’s price dropped sharply on the news and was recently trading for $75,997, a 4% 24-hour drop
Senators mostly voted against advancing the legislation, 49 for and 50 against, that the digital asset industry has long called
Lawmakers blocked the Clarity Act on Tuesday a procedural vote, with the long-awaited legislation missing the 60 votes needed to advance it
The Clarity Act was passed by the House of Representatives last year but has mostly stalled in 2026, with the banking lobby frequently clashing with crypto companies over paying customers stablecoin
Summary
Lawmakers blocked the Clarity Act on Tuesday a procedural vote, with the long-awaited legislation missing the 60 votes needed to advance it. Senators mostly voted against advancing the legislation, 49 for and 50 against, that the digital asset industry has long called for. The bill aims to formally divide oversight between regulators, distinguishing which digital assets are securities, commodities or stablecoins. Bitcoin’s price dropped sharply on the news and was recently trading for $75,997, a 4% 24-hour drop.