CLARITY Act · US Congress · US Senate · Cointelegraph
Crypto industry turns to US regulators after CLARITY setback
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The CLARITY Act still has a procedural path after Senator Thom Tillis moved to reconsider the failed cloture vote, though industry executives are divided over whether Congress has enough time left.
Key facts
- The Senate voted 49-50 on a motion to invoke cloture and advance the CLARITY Act, short of the 60 votes needed as Democrats raised concerns over US President Donald Trump’s crypto investments
- Polymarket odds of the CLARITY Act being signed into law in 2026 fell to 5% on Tuesday, the lowest probability since the market was opened in January
- At the Solana Policy Institute Summit on Monday, SEC Chair Paul Atkins committed to delivering clearer crypto rules with or without legislative support
- Rejecting the bill leaves firms completely dependent on agency guidance and ongoing administrative discretion,” added NEAR chief legal officer Abhishek Vaidyanathan
Summary
Crypto industry leaders are looking to US financial regulators to fill the regulatory gap after a major crypto bill establishing a regulatory framework for digital assets stalled in the Senate on Tuesday. The Senate voted 49-50 on a motion to invoke cloture and advance the CLARITY Act, short of the 60 votes needed as Democrats raised concerns over US President Donald Trump’s crypto investments. At the Solana Policy Institute Summit on Monday, SEC Chair Paul Atkins committed to delivering clearer crypto rules with or without legislative support. “Rejecting the bill leaves firms completely dependent on agency guidance and ongoing administrative discretion,” added NEAR chief legal officer Abhishek Vaidyanathan.