Clarity Act Rejected as Bill Fails to Pass Senate

The Clarity Act, a much-anticipated legislative effort by the digital asset industry aimed at clarifying market structures, failed to pass the U.S. Senate with a 49-50 vote on Thursday (local time), sparking disappointment across the sector. After over a year of bipartisan negotiations, the bill collapsed due to unresolved disagreements over an ethics provision for public officials. The industry now turns its attention toward regulatory agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).