The U.S. Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act in a 49-50 cloture vote on Sept. 15, leaving the bill below the 60 votes required to overcome obstruction and begin full-chamber debate and amendments. The measure would establish a federal digital-asset framework, including primary Commodity Futures Trading Commission oversight, token classifications, stablecoin rules, decentralized-finance provisions and customer-asset protections. Democratic ethics objections involving President Donald Trump’s crypto interests, banking opposition to stablecoin yield products and other concerns fractured bipartisan support. Sen. Elissa Slotkin said she opposed advancing the bill because it lacked adequate conflict-of-interest safeguards, stronger protections against illicit finance linked to money laundering, terrorist financing, North Korea and Iran, and sufficient agency authority and staffing. Coinbase fell 12%, Circle dropped 13% and Bitcoin declined more than 5% intraday after the vote, while Wintermute reduced total short exposure from $102.1 million to $55.54 million and its ETH short from 15,330 ETH to 7,810 ETH, according to Onchain Lens.