Senate Fails to Advance CLARITY Act Amid Partisan Blame Game

The Senate's failure to advance the landmark CLARITY Act has sparked a sharp partisan blame game. Sen. Cynthia Lummis (R-Wyo.) accused Democrats of repeatedly shifting their demands, saying they were 'never truly serious' about reaching a deal.

Lummis argued that for over a year, Democrats presented new demands and moved the goalposts each time the Republican party met them. The final CLARITY Act text included 126 Democratic-requested changes, including expanded ethics provisions.

Democratic senators Sen. Elissa Slotkin (D-Mich.) and Sen. Michael Bennet (D-Colo.) opposed advancing the bill, saying its ethics rules did not go far enough to prevent federal officials from profiting from crypto ventures.