THE BIG ONE
🏛️ 'This one stings': Clarity Act fails procedural Senate vote — is crypto's biggest regulatory push dead?
Senate
The Senate voted 49-50 against advancing the Clarity Act on Tuesday, sinking the crypto bill in a procedural defeat that drew "no" votes from both parties.
Key Democratic negotiators said they blocked it over unresolved ethics concerns tied to President Trump's crypto wealth, with several accusing Republican leadership of shutting down talks at the last minute.
Lead Republican author Sen. Cynthia Lummis hit back hard, accusing Democrats of never being serious and calling the party "anti-American," while Ripple CEO Brad Garlinghouse said "this one stings."
White House crypto advisor Patrick Witt called the failure a "major disappointment," warning it risks ceding future rulemaking to Brussels or Beijing.
Sen. Thom Tillis, who switched his initial yes vote to no, filed a motion to reconsider that leaves room for another cloture vote within days, though one Republican aide told The Block that they think the bill is dead.
Industry figures noted regulators like the SEC and CFTC can still fill the gaps, and pointed to last year's GENIUS Act stablecoin bill, which failed a procedural vote before eventually becoming law.
$BTC
$ETH
$XRP
🏛️ 'This one stings': Clarity Act fails procedural Senate vote — is crypto's biggest regulatory push dead?
Senate
The Senate voted 49-50 against advancing the Clarity Act on Tuesday, sinking the crypto bill in a procedural defeat that drew "no" votes from both parties.
Key Democratic negotiators said they blocked it over unresolved ethics concerns tied to President Trump's crypto wealth, with several accusing Republican leadership of shutting down talks at the last minute.
Lead Republican author Sen. Cynthia Lummis hit back hard, accusing Democrats of never being serious and calling the party "anti-American," while Ripple CEO Brad Garlinghouse said "this one stings."
White House crypto advisor Patrick Witt called the failure a "major disappointment," warning it risks ceding future rulemaking to Brussels or Beijing.
Sen. Thom Tillis, who switched his initial yes vote to no, filed a motion to reconsider that leaves room for another cloture vote within days, though one Republican aide told The Block that they think the bill is dead.
Industry figures noted regulators like the SEC and CFTC can still fill the gaps, and pointed to last year's GENIUS Act stablecoin bill, which failed a procedural vote before eventually becoming law.
$BTC
$ETH
$XRP