On November 6, 2026, former House Financial Services Committee Chairman Patrick McHenry said cryptocurrency industry participants had rejected workable compromises on the CLARITY Act. He also acknowledged his own share of responsibility. The opinion editorial says other disagreements, including over ethics rules, complicated the negotiations; it does not attribute the bill’s failure to the industry alone.
The House passed the bill on July 17, 2025, by 294–134. On September 15, 2026, a Senate motion to proceed failed 49–50, short of the 60 votes needed to invoke cloture. That was a procedural vote, not a final vote on the bill. The bill remains stalled, though the editorial says Congress could revisit it in the post-election session.
