In brief
- Senators voted down cloture on the motion to proceed to the Clarity Act.
- The vote concerned a procedural step toward considering the bill, not final passage.
- Today's result followed months of negotiations over crypto ethics rules and stablecoin rewards.
The U.S. Senate on Tuesday failed to clear a key procedural hurdle for the Clarity Act, setting back efforts to establish a federal framework for crypto markets.
Senators voted to reject cloture on the motion to proceed—a step that limits debate on whether to take up the legislation and requires 60 votes.
decrypt.co