Senate Fails to Advance Crypto Clarity Act After Key Negotiators Vote No
The U.S. Senate has failed to advance the CLARITY Act.
The measure failed to reach the necessary 60-vote threshold on a cloture motion that would have allowed debate on the legislation to move forward.
Several key Democrats who had spent months negotiating the bill voted no.
Veteran crypto and financial journalist Eleanor Terrett is tracking the details from the vote, and says one industry insider considers the bill terminated.
“Several Democrats who have spent months negotiating the Clarity Act, including Gillibrand, Warner, Booker, Warnock, Gallego, Alsobrooks and Cortez Masto, have all voted NO.
One industry leader just texted me: ‘It died.'”
The act is designed to set clear rules for digital assets by splitting oversight between the CFTC and the SEC, so firms know which rules to follow, including which tokens count as commodities and which stay under securities law.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
The post Senate Fails to Advance Crypto Clarity Act After Key Negotiators Vote No appeared first on The Daily Hodl.
