CLARITY Act faces legislative hurdles in the Senate

The CLARITY Act, a digital asset market structure bill, faces significant challenges in the U.S. Senate after failing a procedural cloture vote with 49 votes in favor and 50 against. Republican Senator Thom Tillis changed his vote to 'no' as a procedural maneuver to allow for a motion to reconsider, keeping the bill alive for potential future debate. While supporters remain committed to negotiations, time is running out as the Senate is scheduled to recess on October 2, with the House already in election recess. Disagreements persist regarding ethics clauses related to President Trump's crypto holdings. Experts note that while a comeback is theoretically possible, the window for passage before the end of the year is closing rapidly.