GoKawiil
Tech News
After the Clarity Act failed to advance in the Senate, the SEC issued an order creating a temporary pathway for trading tokenized stocks, and the CFTC submitted a crypto rulemaking proposal to the White House for review the same day. Details of the CFTC proposal have not been made public, though the Office of Management and Budget confirmed it is pending review.
A major cryptocurrency market-structure bill known as the Clarity Act has failed to advance, even after the industry poured hundreds of millions of dollars into lobbying efforts to secure its passage. The setback leaves crypto firms without the clearer federal rules they had hoped would settle long-running regulatory disputes.
A Senate procedural vote to advance the Clarity Act failed 50-49, short of the 60 votes needed, halting progress on legislation meant to create a comprehensive regulatory framework for digital assets. Republicans had added ethics provisions over the weekend to address Democratic concerns about officials profiting from crypto ventures, but the changes failed to win over enough Democrats, including negotiator Sen. Ruben Gallego, who said the ethics compromise was insufficient.