U.S. Senator Warns CLARITY Act May Face Delays Until 2030

The U.S. Senate has blocked the CLARITY Act, a bill intended to establish a federal regulatory framework for digital assets, in a 49-50 vote. The legislation, supported by Senator Cynthia Lummis, aimed to define the jurisdictions of the SEC and CFTC and enhance consumer protections. Despite negotiations and concessions, the bill failed to reach the 60-vote threshold required to advance, with three Republicans joining Democrats in opposition. Senator Lummis criticized the Democratic party's stance, suggesting that the next realistic opportunity for such legislation may not arise until 2030.