Senate cloture vote on Clarity Act fails, dealing regulatory blow to crypto industry
- The U.S. Senate failed a cloture vote on the 600-page Clarity Act, a bill designed to regulate cryptocurrency and clarify federal oversight by the SEC and CFTC, with 50 votes for and 49 against, falling short of the 60 needed to proceed.
- The Clarity Act had passed the House with bipartisan support but faced opposition in the Senate mainly due to Democratic concerns over ethics provisions aimed at blocking President Trump and his family from profiting from cryptocurrency.
- The bill's failure increases uncertainty in the crypto industry, delaying regulatory clarity and potentially slowing investment and acquisitions while regulation efforts revert to agency rulemaking by the SEC and CFTC.
- Industry leaders like Coinbase CEO Brian Armstrong remain hopeful for regulatory clarity either through Senate approval or upcoming rulemaking by the SEC and CFTC, signaling an end to regulatory uncertainty in U.S. crypto markets.
366 Articles
366 Articles
<p>Bitcoin fell below $75,000 after the bill failed in the Senate and the Fed decision Bitcoin fell to $74,985 after the failure of the Clarity bill and the Fed's rate hike. Coinbase and Circle shares have lost to It's 20%.</p>
NV senators voted against it, but Trump’s flagrant self-enrichment is what killed the crypto bill
Nevada Sens. Catherine Cortez Masto and Jacky Rosen joined the rest of their Democratic Senate colleagues Tuesday, along with a handful of Republicans, in killing a cryptocurrency bill the industry really, really wanted. The industry believed that if the Clarity Act, which the House passed last year, was enacted into law, the legislation would bestow […]
Daily Journal
McCormick favors, Fetterman opposes CLARITY Act
(The Center Square) – Pennsylvania U.S. Sens. John Fetterman and Dave McCormick found themselves on opposite ends of a vote on a major cryptocurrency proposal on Tuesday.
Coverage Details
Bias Distribution
- 45% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
