Crypto Industry Turns to Trump Regulators After Senate Bill Fails

A cryptocurrency regulation bill has hit a roadblock in the Senate after failing to secure enough votes to advance.

The Clarity Act, which aimed to clarify the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in regulating digital assets, was met with opposition from both Democrats and Republicans.

Despite extensive lobbying efforts by the industry over the past two years, the bill ultimately came up short in a floor vote Tuesday, with every Democrat and several Republicans voting against it.

Crypto leaders are now shifting their attention to the Trump administration's regulators, urging them to set clear rules for the industry.