Senate Fails to Advance CLARITY Act, Crypto Regulation Stalled
The US Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act after a cloture motion fell short, with 49 votes in favor and 50 against. This means that the proposal, which aimed to clarify parts of US crypto market structure, will not move forward for now.
Republican Senator Thom Tillis suggested that his 'no' vote may have been tactical rather than final, indicating he switched positions late to preserve the ability to call a new vote later. However, lawmakers and industry figures point to an increasingly narrow window for compromise before the legislative calendar tightens further.
The SEC announced a five-year exemption for limited tokenized US stock trading, while the CFTC provided additional regulatory relief for 'passive software' providers. The House advanced separate crypto policy measures, including a committee approval for a 'Strategic Bitcoin Reserve' framework and progress on crypto tax legislation.