The CLARITY Act is Dead (For Now).

The CLARITY Act (Digital Asset Market Clarity Act) failed to pass cloture and won’t be taken up on the Senate floor. This is very, very good news. Despite attempts until the last minute by New York Senator Kirsten Gillibrand—a Democrat who is closely associated with the crypto lobby—not a single one of her colleagues came over to her side. So even she voted “no” to advance the bill. This likely means CLARITY is dead for the foreseeable future. But it doesn’t mean it’s gone. This is a victory for the banking industry and a huge blow to the Trump family who were banking (pun intended) on this bill setting up World Liberty Financial to be one of the wealthiest stablecoin firms in the world.