Democratic Senators Vow to Revive Clarity on Crypto Regulations
A group of seven Democratic senators has reaffirmed their commitment to passing the CLARITY Act, despite its failure in the Senate. The lawmakers say they will continue bipartisan negotiations to establish a federal framework for cryptocurrency markets.
The Senate voted down cloture on H.R. 3633 by 49-50, falling short of the three-fifths threshold required to advance the legislation. This leaves Congress without an enacted comprehensive market structure framework for digital assets.
The CLARITY Act would establish a regulatory system involving the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) for digital commodity markets. Senators Kirsten Gillibrand, Angela Alsobrooks, Cory Booker, Catherine Cortez Masto, Ruben Gallego, Mark Warner, and Raphael Warnock all voted against the cloture motion.