CLARITY Act Fails Senate Cloture Vote

The U.S. Senate rejected the cloture motion for the CLARITY Act (US digital-asset market-structure bill) on September 15 with a 49-50 vote. The bill, which aimed to establish a regulatory framework for digital assets, failed to proceed to formal debate following a breakdown in negotiations over ethics provisions regarding potential conflicts of interest for government officials. Despite the legislative setback, industry participants and firms like Grayscale noted that regulatory progress continues through the SEC and CFTC, while on-chain activity remains unaffected by the vote.