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Crypto Bill Fails to Launch as Democrats and Republicans Unite to Block It
Confirmed
In Short: The Clarity Act, a crypto regulatory bill backed by President Trump, failed to advance in the Senate, facing opposition from both parties.
The Clarity Act, a comprehensive federal framework for cryptocurrency, failed to move through a key procedural hurdle in the Senate, with the bill falling short of the required 60-vote threshold to proceed. All Democrats and a handful of Republicans voted against the motion, according to reports from Justthenews and NBC News.
Sen. Cynthia Lummis, the bill's primary architect, acknowledged the failure, stating, 'I think we're done. It's over,' during a meeting in Dublin on Sept. 12, 2026, as reported by Fox News.
Despite the setback, some lawmakers argued that moving forward with the bill could allow for necessary tweaks and improvements, according to Fox News.
The bill's failure was attributed to various concerns among Democrats and Republicans, including dissatisfaction with the ethics language that aimed to slow down the Trump family's crypto investments, as highlighted by Massachusetts Sen. Elizabeth Warren.
With little time left on the Senate's calendar and major bills piling up ahead of the midterm elections, proponents of the Clarity Act now believe it may end up back on the shelf, according to Justthenews and Fox News.
What's confirmed
- The Clarity Act, a comprehensive federal framework for cryptocurrency, failed to move through a key procedural hurdle in the Senate, with the bill falling short of the required 60-vote threshold to proceed. All Democrats and a handful of Republicans voted against the motion, according to reports from Justthenews and NBC News.
- Sen. Cynthia Lummis, the bill's primary architect, acknowledged the failure, stating, 'I think we're done. It's over,' during a meeting in Dublin on Sept. 12, 2026, as reported by Fox News.
- Despite the setback, some lawmakers argued that moving forward with the bill could allow for necessary tweaks and improvements, according to Fox News.
- The bill's failure was attributed to various concerns among Democrats and Republicans, including dissatisfaction with the ethics language that aimed to slow down the Trump family's crypto investments, as highlighted by Massachusetts Sen. Elizabeth Warren.
- With little time left on the Senate's calendar and major bills piling up ahead of the midterm elections, proponents of the Clarity Act now believe it may end up back on the shelf, according to Justthenews and Fox News.
What's still developing
- He was worried about how bringing crypto into the fold could affect deposit yields at community banks and guardrails on the currency being "diverted for criminal purposes," but he argued the bill could be strengthened if they moved forward.
- A colossal crypto regulatory package backed by President Donald Trump stumbled in the Senate, and another shot is unlikely.
- The Clarity Act failed to move through a key procedural hurdle on Tuesday, serving proponents of the bill, including major players in the cryptocurrency industry and the White House, a major blow in their pursuit of folding the novel currency into the nation’s web of financial regulations.
- The issues with the package were many and varying among Democrats and Republicans.
- The bill would have established clearer rules for digital assets and determined whether particular tokens fall under securities or commodities laws.
- Senate Democrats on Tuesday blocked legislation to create a new regulatory framework for cryptocurrency, stalling an industry-backed effort to place new guardrails around digital assets after demanding more limits on President Donald Trump’s investments.
- “Let’s make sure that we do not pass a crypto bill that will let Donald Trump continue to rake in billions of dollars in crypto profits while working families across this country struggle to deal with higher prices and an economy that gets worse by the day,” said Massachusetts Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee.