CLARITY Act stalls in Senate following breakdown in bipartisan negotiations

The CLARITY Act failed to advance in the Senate after failing to secure the 60 votes required for cloture. Bipartisan negotiations collapsed over disagreements regarding ethics rules for public officials' crypto holdings, despite a revised 635-page text that incorporated 126 changes requested by Democrats. Several key Democratic senators who previously supported the bill ultimately voted against it, leaving the future of the US digital-asset market-structure proposal uncertain.