CLARITY Act stalls in Senate as Fairshake backs 32 House incumbents
- —Cloture vote failed 49-50, short of the 60-vote threshold needed to proceed
- —Fairshake backs 32 incumbents: 19 Republicans and 13 Democrats, with six slated for $1 million each
- —The bill passed the House in July 2025 and would split oversight between the SEC and CFTC
- —Sponsors cited 126 substantive changes requested by Democrats, including ethics and stablecoin provisions
Why it matters: Without federal market-structure rules, U.S. crypto oversight remains enforcement-driven, leaving exchanges and token issuers exposed to regulatory uncertainty.
Source: Cryptonews.net