Crypto
US Senate Blocks Cryptocurrency Regulation Bill Over Ethics Concerns
A major bill aimed at regulating the digital asset market has been blocked in the US Senate. The CLARITY Act, which sought to give the Commodity Futures Trading Commission (CFTC) primary regulatory authority over the industry, was voted down on September 15.
The bill required 60 votes to advance, but failed to secure enough support due to objections from Democrats over ethics provisions related to President Donald Trump's business interests.
Democrats argued that the restrictions were insufficient to address concerns about Trump's reported $1.4 billion in gains from cryptocurrency-related activities.