Crypto Clarity Act flames out in failed U.S. Senate vote

The US Senate has failed to pass the Crypto Clarity Act, falling short of the 60 votes needed to advance the legislation. The bill aimed to establish a clear federal regulatory framework for digital assets.

Senator Elizabeth Warren expressed determination to get a crypto bill signed into law, although she does not support the current Clarity Act. The bill's defeat is seen as a significant setback for the crypto industry, which had strongly backed the legislation as a means to reduce legal uncertainty and provide a firmer foundation for digital-asset businesses.

The Clarity Act's failure comes at a time when the crypto market is experiencing volatility, with Bitcoin falling sharply ahead of the Senate vote and the Federal Reserve's interest-rate decision. According to The Block, Senator Elizabeth Warren remains committed to passing a crypto bill.

Brief written by urgent.news from CoinDesk, The Block, Hindustan Times - World News, Live Mint, The Economic Times — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.