Yesterday, the CLARITY Act still didn’t pass.
This wasn’t a final vote; it was a procedural vote to decide whether the bill could continue moving forward. It required 60 votes, and in the end it received 50 in favor and 49 against.
What was somewhat surprising is that it wasn’t only Democrats who opposed it—four Republican senators also voted against.
After watching the entire process, it feels like the biggest problem with U.S. crypto regulation right now isn’t whether anyone wants to pass legislation, but that the versions each side wants are far too different.
The Democrats have been blocking the bill over the Trump family’s crypto-related conflict of interest, while the banking industry has been opposing the provisions related to stablecoin yield.
Before Republicans voted, they temporarily revised the bill, but in the end they still missed by 10 votes.
What makes it even more troublesome is the timing.
In November, the U.S. will have midterm elections. Congress will then go on recess and enter the campaign period. After this vote failed, to get CLARITY pushed again this year, time is already very tight.
#CLARITY法案投票受阻引争议 $BTC $ETH $ZEC
This wasn’t a final vote; it was a procedural vote to decide whether the bill could continue moving forward. It required 60 votes, and in the end it received 50 in favor and 49 against.
What was somewhat surprising is that it wasn’t only Democrats who opposed it—four Republican senators also voted against.
After watching the entire process, it feels like the biggest problem with U.S. crypto regulation right now isn’t whether anyone wants to pass legislation, but that the versions each side wants are far too different.
The Democrats have been blocking the bill over the Trump family’s crypto-related conflict of interest, while the banking industry has been opposing the provisions related to stablecoin yield.
Before Republicans voted, they temporarily revised the bill, but in the end they still missed by 10 votes.
What makes it even more troublesome is the timing.
In November, the U.S. will have midterm elections. Congress will then go on recess and enter the campaign period. After this vote failed, to get CLARITY pushed again this year, time is already very tight.
#CLARITY法案投票受阻引争议 $BTC $ETH $ZEC