{
  "id": 7692881,
  "title": "Democrats vote down crypto’s Clarity Act, citing ethics concerns and Trump’s vast crypto wealth",
  "url": "https://urgent.news/2026/09/16/democrats-vote-down-cryptos-clarity-act-citing-ethics-concerns-and",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T02:45:48.000Z",
  "source": {
    "name": "SiliconANGLE",
    "slug": "siliconangle",
    "url": "https://siliconangle.com/2026/09/15/democrats-vote-down-cryptos-clarity-act-citing-ethics-concerns-and-trumps-vast-crypto-wealth/"
  },
  "original_language": "en",
  "account": "The Clarity Act, a U.S. Senate bill aimed at regulating crypto assets at the federal level, faced a major setback when it was voted down on September 15, 2026. The bill, part of President Donald Trump's efforts to position the U.S. as a leader in digital asset innovation, saw a narrow 50-49 defeat. This loss has left crypto industry leaders disappointed, with Ripple Labs CEO Brad Garlinghouse expressing frustration on X that the \"politics of the democrats (the anti-crypto army) was elevated over good policy.\"\n\nThe passage of the bill has been fraught with challenges, including opposition from banks over stablecoin rewards, debates over enforcement, and concerns about Trump's ethics and substantial crypto wealth. Democrats strongly opposed the heavily revised bill, citing ethics concerns, particularly due to Trump's personal financial gains from his crypto firm World Liberty Financial and his memecoin $TRUMP. Trump had been a vocal supporter of crypto during his 2024 Presidential campaign and has made millions from $TRUMP, despite its declining value over the past year.\n\nLawmakers have grappled with ethics language in the bill, with key issues like whether U.S. states should be able to file criminal charges against public officials who manipulate crypto for profit remaining unsettled. Sen. Elissa Slotkin voted against the bill due to perceived thin ethics provisions, while Sen. Ruben Gallego stated he would never support legislation that enables Trump to amass more wealth at the expense of regular Americans. Some Republicans, like Sen. Cynthia Lummis, criticized Democrats for not working with them to craft a bill with strong ethics provisions.\n\nDespite the defeat, supporters of pro-crypto government regulation believe the Clarity Act could still be pushed through. Republican Sen. Thom Tillis, involved in discussions on stablecoin rewards and ethics provisions, voted against the bill but later moved to reconsider the vote, allowing for potential refinements and a second vote. The bill's advocates, including crypto industry advocacy group Stand With Crypto, warned that voters supporting crypto could punish lawmakers who rejected the bill in future elections.",
  "summary": "A crucial vote on U.S. President Donald Trump’s landmark digital asset legislation, the Clarity Act, resulted in a crushing defeat for the cryptocurrency industry today. Earlier today, the Senate voted 50-49 against passing the Clarity Act, which aimed to regulate crypto assets at the federal level, as part of Trump’s push to establish the U.S. […] The post Democrats vote down crypto’s Clarity…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Financial Times",
        "title": "Landmark US crypto bill fails as Senate splits over Trump ethics concerns",
        "url": "https://urgent.news/2026/09/15/landmark-us-crypto-bill-fails-as-senate-splits-over-trump-ethics",
        "published": "2026-09-15T21:31:07.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}