{"id":99417,"date":"2026-09-16T00:01:33","date_gmt":"2026-09-16T00:01:33","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/senate-fails-to-advance-clarity-act-amid-democratic-concerns-about-crypto-bill\/"},"modified":"2026-09-16T00:01:33","modified_gmt":"2026-09-16T00:01:33","slug":"senate-fails-to-advance-clarity-act-amid-democratic-concerns-about-crypto-bill","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/senate-fails-to-advance-clarity-act-amid-democratic-concerns-about-crypto-bill\/","title":{"rendered":"Senate fails to advance Clarity Act amid Democratic concerns about crypto bill"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p><em>Washington \u2014 <\/em>The Senate on Tuesday failed to advance a sweeping cryptocurrency bill known as the Clarity Act, amid opposition from Democrats and a handful of Republicans.<\/p>\n<p>In a 49 to 50 vote, the measure fell short of the 60 votes needed to move forward, with all Democrats and four Republicans opposing.<\/p>\n<p>The bill would establish a regulatory framework for digital assets. Ahead of the vote on Tuesday, Senate Majority Leader John Thune argued passing it would be the &#8220;next logical step&#8221; after Congress approved legislation last year to regulate a type of digital currency known as stablecoins. Thune said that landmark bill, known as the <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-signs-genius-act-crypto-bill\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">Genius Act<\/a><\/span>, provided a &#8220;light-touch approach&#8221; to digital asset regulation, and credited it for the industry &#8220;moving in the right direction&#8221; in the United States.<\/p>\n<p>Thune, a South Dakota Republican, noted that the Clarity Act distinguishes between the jurisdictions of the Commodity Futures Trading Commission and the Securities and Exchange Commission<strong>,<\/strong>\u00a0two financial regulators that have split crypto enforcement in sometimes confusing ways, while ensuring that they work together to &#8220;harmonize the rules.&#8221; He also touted that the bill &#8220;ensures that companies can&#8217;t skirt securities laws that apply to other financial assets.&#8221; And he argued that it &#8220;protects the growing number of Americans investing in and utilizing digital assets.&#8221;<\/p>\n<p>Thune touted the bill&#8217;s support from large financial institutions and law enforcement organizations, while nodding to bipartisan backing as senators have worked for more than a year to bring it to the floor. Thune cited more than 100 changes made to the bill at the request of Democrats, noting that the bill&#8217;s GOP sponsors released a final draft with more changes incorporated over the weekend. He said &#8220;the question now is whether Democrats will take yes for an answer.&#8221;<\/p>\n<p>&#8220;This is a shared priority, for Republicans, Democrats and President Trump,&#8221; Thune said. &#8220;We&#8217;ve been working at it now for over a year. The only reason for this progress to end now would be if the Democrats choose politics over good policy. And now is not the time for political games.&#8221;<\/p>\n<p>But the changes weren&#8217;t enough for Democrats. Sen. Elizabeth Warren of Massachusetts voiced opposition to the bill on the Senate floor ahead of the vote, saying she believes &#8220;we can get crypto legislation that both Republicans and Democrats can agree on \u2014 but not this bill. &#8220;<\/p>\n<p>&#8220;This bill poses a massive risk to families, to our economy and to national security,&#8221; Warren said.\u00a0<\/p>\n<p>Warren said &#8220;we need crypto legislation that stops political self-dealing,&#8221; but she argued that the Clarity Act &#8220;would turbocharge Donald Trump&#8217;s unprecedented corruption.&#8221; She claimed &#8220;no one has more to gain personally from this bill than the president of the United States.&#8221;<\/p>\n<p>At the center of the impasse is ethics language aimed at preventing officials from profiting off of the industry. But Democrats have argued that the latest changes to the bill don&#8217;t go far enough to prevent the president and his family from profiting off of their own crypto ventures.<\/p>\n<p>According to financial disclosures, Mr. Trump made <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-over-1-billion-on-crypto-ventures-financial-disclosures\/\" data-invalid-url-rewritten-http=\"\">$1.4 billion<\/a><\/span> in crypto-related income last year, including from his meme coin business and his family&#8217;s cryptocurrency firm.<\/p>\n<p>Warren said in the latest version of the legislation, which the White House has greenlighted, Republicans included &#8220;a tiny little fig leaf that claims they&#8217;re doing something about corruption, but that is carefully written to make sure that it will not prevent Donald Trump from making his next $1.4 billion in crypto profits.&#8221; She argued that the new text guarantees Mr. Trump will &#8220;never, ever be held accountable under the law.&#8221;<\/p>\n<p>Warren urged her GOP colleagues to come to the table and &#8220;negotiate a real, bipartisan crypto bill.&#8221;<\/p>\n<section class=\"content__body--footer\">\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation  \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<div class=\"component__item-recirc-block\">\n<p><h3 class=\"component__title\">Go deeper with The Free Press<\/h3>\n<\/p><\/div>\n<\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><br \/>\n    <\/section>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n  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\u2014 The Senate on Tuesday failed to advance a sweeping cryptocurrency bill known as the Clarity Act, amid 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