Browsing: Senate

The US Senate yesterday failed to proceed with consideration of the CLARITY Act, marking another blow for the prospect of a legislative framework for digital assets at the federal level. Senators voted 49 to 50, with the motion coming up short of the three-fifths majority needed to invoke cloture (to overcome an objection to) the motion to…

DeepInsight Summary: The CLARITY bill failed in the Senate with a vote of 49 to 50, far short of the 60-vote threshold. This is not the end for crypto: the CFTC and SEC will continue pushing to implement regulations, but a comprehensive legislative framework that is difficult to overturn is unlikely in the near term.…

A procedural vote on the Clarity Act, a U.S. bill that would set the market structure for digital assets, failed in the Senate after Republicans and Democrats were unable to narrow their differences over ethics provisions covering senior public officials. Shares of crypto-related companies fell sharply

The CLARITY Act failed to advance in the U.S. Senate after Tuesday’s cloture vote fell short of the required threshold. Senators recorded 39 votes in favor and 36 against, missing the 60 votes needed to proceed. The procedural defeat blocks the legislation from moving into formal Senate debate under the current vote.