Senate Fails to Advance CLARITY Act, Leaving Market Structure Questions Unresolved

The U.S. Senate failed to advance the Digital Asset Market CLARITY Act of 2025, a bill aimed at creating a federal framework for digital commodities and clarifying regulatory responsibilities.

On September 15, a procedural vote fell short of the required three-fifths support to move the legislation forward, with 49 senators voting against cloture and 50 in favor. This means that while some progress was made on token classification and related issues, major market-structure questions remain unresolved at the federal level.

Industry groups have expressed their intention to continue advocating for market-structure legislation, but any renewed effort will require further Senate action. The vote leaves companies operating in digital assets with a need to clearly distinguish between existing law, proposed legislation, and company-specific regulatory status.