US Senate Fails to Pass CLARITY Act Amid Regulatory Developments
- The US Senate’s cloture motion on the CLARITY Act failed with a vote of 49-50, falling short of the required 60 votes.
- The SEC announced a five-year exemption for trading tokenized US stocks on decentralized blockchains, allowing automated market makers to operate without registering as securities exchanges.
- The CFTC proposed new rules easing registration requirements for “passive software” providers connecting users to regulated derivatives firms.
- The American Reserve Modernization Act passed the House Committee, formalizing a Strategic Bitcoin Reserve and requiring audits of federal digital asset holdings.
- Bitcoin (BTC) rose by 5.9% this week, trading at $81,185, while Ethereum (ETH) increased by 6.6% to $2,639.
With only about twenty legislative days remaining in Congress and ongoing discussions among lawmakers, the future of the CLARITY Act remains uncertain despite some support from Democratic senators. Meanwhile, regulatory bodies like the SEC and CFTC are moving forward with new frameworks that may shape the crypto landscape in the absence of comprehensive legislation.
As Bitcoin trades at $81,185 and Ethereum at $2,639 this week, regulatory developments signal an evolving environment for digital assets amid stalled legislation like the CLARITY Act. (Source)
