U.S. Senate Fails to Pass CLARITY Act for Crypto Regulation
The Senate was unable to secure the 60 votes needed for the CLARITY Act, effectively halting regulatory efforts for the U.S. crypto market. With only 27 votes counted, legislative work on market structure is now paused until at least 2026.
Sources
The United States Senate failed to advance the Digital Asset Market Clarity Act, backed by President Donald Trump, falling short of the 60 votes needed, with a vote tally of 50-49. Four Republican senators joined Democrats in opposing the bill, which was criticized for posing risks to families and the economy, and which Trump has used to promote his image as a "crypto president." The defeat has left regulatory control of the crypto industry uncertain, exacerbating market volatility as seen by Bitcoin's drop of over 5%, while shares of companies like Coinbase fell by up to 10%.
The U.S. Senate failed to advance the Clarity Act, a significant market structure bill for the crypto industry, unable to secure the necessary 60 votes. In the wake of this setback, major crypto stocks like Coinbase, Circle, and Galaxy experienced a selloff, while Bitcoin fell 1.7% to $76,862. Prediction markets had warned of the Clarity Act’s diminishing prospects hours before the vote, and now the failure brings an end to hopes for comprehensive crypto market regulations.