@cspanofficial: The Senate on Tuesday failed to advance a revised version of the Clarity Act, a sweeping cryptocurrency regulation bill, delivering a blow to a crypto industry that had worked to shape the measure for months on Capitol Hill. The procedural vote was 49–50, falling well short of the 60 needed to advance, with GOP Sens. Susan Collins (ME), Josh Hawley (MO) and Jerry Moran (KS) joining all Democrats in opposition. Sen. Thom Tillis (R-NC), who led ethics changes to the bill, switched his vote to “no” so he can call another vote at a later time. A vote on the measure, which seeks to create a comprehensive market structure framework for the crypto industry, had been delayed for months amid efforts to assuage Democratic concerns that it doesn’t do enough to prevent public officials from profiting from crypto ventures. Democrats said the revised version, released Sunday night with stronger ethics rules, did not go far enough to address their concerns about President Trump’s potential conflicts of interest in the digital assets sector. The president reported more than $1.4 billion from crypto businesses last year. “All President Trump wants is for the Senate to give him time to crime, and I won’t support any piece of legislation that enables him,” Sen. Ruben Gallego (D-AZ), who sought tougher ethics provisions, said in a statement after the vote. “This legislation failed squarely because Republicans refuse to say no to the president.” Democratic lawmakers sent a counterproposal to Republicans late Monday night laying out the changes they want, but the two sides remain at odds, leading to the bill stalling on the floor. The bill, sought by the crypto industry, would revise Wall Street regulations to accommodate crypto trading and split oversight of digital assets between the Commodity Futures Trading Commission and the Securities and Exchange Commission. #senate #crypto #cryptocurrency #regulation #cspan

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Tuesday 15 September 2026 20:22:56 GMT