CLARITY Act Stalls in Senate Amid Ethics Concerns

The CLARITY Act, a bipartisan bill aimed at regulating the US crypto market, has stalled in the Senate after failing to secure the necessary 60 votes for cloture.

Despite a major rewrite that incorporated 126 substantive changes sought by Democrats and concessions from President Donald Trump on ethics rules, several key Democrats who helped shape the bill ultimately voted against it.

Sens. Kirsten Gillibrand, Mark Warner, Cory Booker, Raphael Warnock, Ruben Gallego, Angela Alsobrooks, and Catherine Cortez Masto all opposed moving forward with the legislation.

The setback comes after a final round of bipartisan negotiations broke down over ethics rules, leaving Republicans without the Democratic coalition they had spent months trying to assemble.