CLARITY Act Stalls in Senate, Leaving Bitcoin's Regulatory Status Unchanged

The recent failure of the CLARITY Act in the U.S. Senate has left Bitcoin's regulatory status unchanged, but it could create a longer period of uncertainty for the cryptocurrency.

According to a report from Bitplanet Research Lab, the setback primarily delayed efforts to put a definition of digital commodities and a regulatory framework for spot markets into federal law.

The Senate rejected the cloture motion to begin consideration of H.R. 3633 on September 15 by 49 votes to 50, with one senator not voting.

The existing interpretation from the SEC and CFTC remains unchanged, which placed Bitcoin among digital commodities rather than securities.