Senate cloture vote on Clarity Act fails, dealing regulatory blow to crypto industry
- The U.S. Senate failed to advance the Digital Asset Market Clarity Act after a 49-50 cloture vote, falling short of the 60 votes needed to open debate on H.R. 3633.
- No Democrats voted to advance the bill, and four Republicans opposed it, influenced by concerns including ethics provisions and industry input.
- New York Attorney General Letitia James led 17 other attorneys general warning that the bill's federal pre-emption could weaken state enforcement against cryptocurrency fraud, citing significant reported losses and anti-fraud actions.
- The bill faces an uncertain future due to unresolved disputes over ethics safeguards, regulatory frameworks, and federal versus state roles.
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.
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