The US Senate on Tuesday blocked the Clarity Act from advancing, dealing a major setback to the crypto industry's effort to establish a comprehensive regulatory framework.
The procedural vote leaves the bill stalled after months of negotiations aimed at securing bipartisan support. Republican leaders released a revised version on Monday that included new ethics restrictions intended to address Democratic concerns over public officials profiting from crypto ventures, but the changes failed to win enough support.
The legislation would establish federal rules for digital assets, divide regulatory oversight between the Securities and Exchange Commission and Commodity Futures Trading Commission, create registration requirements, and strengthen anti-money-laundering protections.
https://breakingthenews.net/Article/Crypto-Clarity-Act-blocked-in-Senate-vote/67111256
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