Clarity Act Fails to Pass Senate Amid Republican Opposition

The Clarity Act, a digital asset market structure bill championed by US President Donald Trump, failed to advance past the Senate. The legislation faced not only Democratic opposition but also defections within the Republican Party, leading to its collapse. With midterm elections just two months away, the split among Republicans has raised concerns about party cohesion. The vote outcome has sparked analysis that President Trump's congressional influence is weakening and may signal the onset of 'reefer' (a Korean term for political stagnation or decline). A total of 60 votes were needed to pass the bill.