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Crypto — Domestic Policy — Politics

Senate Blocks Clarity Act, Delaying U.S. Crypto Regulation

The procedural cloture vote failed 49-50, well short of the 60 votes required to move the legislation forward.

,   and  TIPP Staff
2 min read
Senate cloture vote on Clarity Act fails, dealing regulatory blow to crypto industry. Pic via(@CNBC)

The U.S. Senate on Tuesday failed to advance the Clarity Act, a major bill aimed at establishing a federal regulatory framework for cryptocurrency markets.

The procedural cloture vote failed 49-50, well short of the 60 votes required to move the legislation forward.

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Republican senators had released a revised version shortly before the vote, incorporating numerous changes sought by Democrats, including additional ethics provisions. The revisions were not enough to secure the votes needed to advance the measure.

The defeat also affected cryptocurrency markets, with Bitcoin falling nearly 3% during trading. The bill's failure leaves the Securities and Exchange Commission and Commodity Futures Trading Commission continuing to shape digital-asset policy through regulation and enforcement rather than a comprehensive new federal statute.

With Congress approaching the midterm election recess, lawmakers have limited time to revive negotiations before the end of the year.

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