Crypto Regulation Bill Fails to Clear Senate Hurdle

The Digital Asset Market Clarity Act, championed by crypto executives and President Trump, suffered a stinging defeat in the U.S. Senate after failing to clear a key procedural hurdle.

The bill would have established regulations for the crypto sector in U.S. history, but opponents saw it as too lenient on the industry with not enough safeguards.

Despite the crypto sector's hopes of passing the Clarity Act sooner, it faced an uncertain future after the vote, which needed 60 'yes' votes to clear the hurdle but only got 49.