Crypto Regulation Bill Fails in Senate Vote

The Digital Asset Market Clarity Act (CLARITY Act) failed to pass in the Senate, falling short of the required 60 votes by a margin of ten. The bill, championed by President Trump, aimed to regulate the cryptocurrency market but was met with opposition from both Democrats and Republicans.

Democrats argued that the bill did not go far enough to address President Trump's crypto profits, while Republicans pointed to the 126 substantive changes made during negotiations. Senator Thom Tillis voted against the bill specifically to trigger a motion to reconsider, leaving a procedural route for the measure to return in the future.

The controversy centered on whether the ethics language truly insulates Trump's holdings, with opponents noting that the bill's rules explicitly allow federal officials to hold crypto and bar state and private enforcement. This means Trump's $1.4 billion crypto windfall would largely go untouched.