Crypto Clarity Act flames out in failed U.S. Senate vote
JUST IN: The crypto CLARITY Act fails to clear a key procedural vote in the US Senate, stalling the market structure bill amid an ethics fight over Trump's crypto wealth.
The CLARITY Act just died on the Senate floor. The big crypto market structure bill, the one the industry has been begging for, failed a key procedural vote.
This was supposed to be the rulebook, who regulates what, where the SEC ends and the CFTC begins. Instead it stalled out on Capitol Hill, and the fight that killed it wasn't really about market structure at all. It was about ethics, specifically Donald Trump's own crypto fortune. Democrats want guardrails on a president who personally holds crypto wealth while signing crypto laws, and here he is, the elephant in every markup room.
So the industry that spent record money on this Congress just watched its flagship bill flame out. Clarity was the whole point. What crypto has tonight is the opposite.
This is Sara White, reporting for HIT.
Sources
This story was written by HIT from the reporting above. We publish our own copy, not theirs.
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