CLARITY Act Fails in Senate, But Crypto Advocates See Hope for Lame-Duck Push

The CLARITY Act, a bill aimed at clarifying crypto market structure, suffered a setback this week when it failed to advance in the Senate. However, managing director of the Digital Sovereignty Alliance, Adrian Wall, suggests that lawmakers from both parties are considering another attempt to push the bill forward during the upcoming lame-duck session.

Wall stated that he has directly spoken with senators who are weighing a renewed effort to move the bill forward, calling it 'a long shot' but acknowledging an appetite for action. The lame-duck session refers to the period after a congressional election but before the new Congress is sworn in, often used to push through legislation that didn't advance during the regular session.

If the CLARITY Act fails to pass during this window, Wall believes it could be taken up by the next Congress. The bill's passage has been a long-standing request from the crypto industry, which has pushed back against inconsistent enforcement from regulators.