The CLARITY Act, a U.S. bill intended to create a regulatory framework for digital assets, has stalled in the Senate after failing to secure the procedural votes needed to end debate. That result leaves the legislation unable to move forward for now.
According to Techub News, the failed cloture-related step has effectively halted the bill’s progress in the Senate. The measure had been aimed at setting out a broader framework for digital asset regulation in the United States.
Its setback also points to a near-term gap at the congressional level. With the bill now stalled, the U.S. Congress is unlikely to pass a comprehensive cryptocurrency regulatory law in the short term based on the current legislative path.
The CLARITY Act, a U.S. bill meant to set up a regulatory framework for digital assets, has stalled in the Senate after it failed to get the procedural votes needed to end debate, Techub News reported.
So now the bill is stuck. And that means a broad cryptocurrency regulatory law is unlikely to come out of the U.S. Congress anytime soon.
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