The Senate failed to advance the CLARITY Act after a 49-50 cloture vote, falling 11 votes short of the 60 needed to proceed. Senator Thom Tillis moved to reconsider the vote, leaving open another attempt before Congress's term ends in January. Crypto executives described the result as a setback but identified potential rulemaking by the SEC (U.S. securities regulator) and CFTC (U.S. derivatives regulator) as the most immediate route toward clearer digital-asset rules. SEC Chair Paul Atkins has reiterated that the agency will pursue crypto guidance with or without legislation, while industry lawyers warn that reliance on agency discretion would leave firms facing uncertainty, repeated legal work and case-by-case judgments. Polymarket odds of the bill being signed into law in 2026 fell to 5%, the lowest since the market opened in January.