Senate Faces 60-Vote Test on Crypto Oversight Bill

The U.S. Senate failed to advance the CLARITY Act in a 49-50 procedural vote, leaving it short of the 60 votes needed to overcome a filibuster. The legislation would establish the first comprehensive federal framework for digital assets, dividing oversight between the SEC and CFTC and setting consumer-protection and market rules. Negotiations broke down primarily over ethics provisions concerning public officials’ crypto holdings and profits, with Democrats citing President Donald Trump’s reported $1.4 billion in crypto income and Republicans arguing they had incorporated extensive Democratic requests. State attorneys general and some lawmakers also warned that the bill could weaken state enforcement authority or harm community banks. With limited Senate business remaining before the 2027 session, the measure is unlikely to advance this year unless lawmakers revive it, prolonging regulatory uncertainty and tempering expectations for a major crypto-market boost.