Crypto missed out on CLARITY, but tokenized stocks were legalized and the Bitcoin Reserve advanced. Meanwhile Standard Chartered says Arbitrum’s price could increase 70 times by 2030.
After a year’s buildup, the US Senate failed to pass a cloture motion on the Digital Asset Market Clarity (CLARITY) Act . The motion received just 49 votes in favor and 50 against, well short of the 60 votes required.
However, Republican Senator Thom Tillis’s “no” vote was not all it seemed, and he confirmed he’d only switched sides at the last minute to enable him to call a new vote in future.
So does that mean the CLARITY Act could be resurrected? The GENIUS bill suffered a similar failed vote on cloture and then went on to pass just 11 days later.
While there is a small chance that CLARITY could still pass , the politics and the number of legislative days available suggests it’s unlikely.
Congressman Shri Thanedar, a Democrat who supported CLARITY in the House, told Magazine the timeline was a “major barrier.” Seven Democratic senators who had voted against the bill claimed they “remain committed” to passing it.