Clarity Act Fails to Pass Senate, Crypto Industry Reiterates Urgency of Legislation

On September 16, according to CoinDesk, the U.S. Clarity Act failed to cross the 60-vote cloture threshold in a Senate vote. Following this legislative setback, executives from projects including Enso, tZERO, and the Cardano Foundation believe the vote outcome does not reverse the structural trend toward a compliant digital asset market, with the SEC and CFTC already advancing relevant frameworks within their respective jurisdictions.

However, several executives noted that administrative agency rules lack the durability of legislation-level measures and are highly susceptible to being rewritten with changes in administration. With the Senate entering recess in October and the early November election approaching, if the next Congress still fails to advance clear legislation, companies will continue to face fragmented rulemaking challenges, pushing capital and development teams toward European markets that have already implemented the MiCA framework.

[TechFlow]