US Senate Kills CLARITY Act; SEC and CFTC Build Interim Crypto Regime
- —Cloture vote failed 49-50, 11 short of the 60-vote threshold
- —Democrats demanded a stricter ban on officials profiting from crypto
- —Final draft absorbed 126 Democratic amendments, including state AG enforcement
- —Polymarket put 2026 passage odds at 13% before the vote
Why it matters: With no federal crypto law until at least the midterms, the market will operate under temporary agency rules with weaker long-term guarantees.
Source: Blockhead