Senate Blocks CLARITY Act, Grayscale Vows Ongoing Regulatory Efforts

The US crypto sector faces uncertainty after the Senate failed to advance the CLARITY Act. The bill, which aimed to create a broader federal framework for digital assets, fell short of the 60 votes needed to move forward.

The vote on September 15 ended 49-50, with four Republicans joining Democrats in opposing the motion to advance the measure. Grayscale, a leading digital asset manager, responded by saying that the result was not what they had hoped for but regulatory work continues outside Congress.

Grayscale pointed to ongoing efforts by regulators like the SEC and CFTC as evidence of policy development despite the Senate setback. The company reaffirmed plans to work with lawmakers and regulators on a broader framework, expecting policy development to continue even without market structure legislation.