BlockBeats news, September 19: The U.S. Senate this week failed to advance the crypto market structure bill, the Clarity Act, in a procedural vote of 49 in favor and 50 against, leaving the bill far short of the 60-vote threshold needed for passage.Reports say Democratic senators voted unanimously against it, while Republican senators Susan Collins, Josh Hawley, and Jerry Moran also joined the opposition. Thom Tillis initially voted in favor but then switched to oppose, in order to preserve the possibility of reintroducing the bill in the future. Several Democratic senators involved in negotiations said the vote was a "setback, but not the end," and the two parties have begun attempts to restart talks.As progress in Congress stalls, the crypto industry is shifting more attention to regulators. SEC Chairman Paul Atkins explicitly linked the agency's innovation exemption measures announced this week to the stalling of the Clarity Act, as the measures open a path for tokenized U.S. stocks to trade on-chain.Meanwhile, CFTC staff issued a "no-action" position for passive software service providers and have submitted a broader crypto market rules proposal to the White House for review, with the specific contents not yet public.
