CLARITY Act fails Senate procedural vote amid crypto ethics concerns

  • CLARITY Act failed a U.S. Senate procedural vote.
  • September 15 marked the vote that blocked full Senate consideration.
  • Democrats cited insufficient ethics safeguards involving President Donald Trump’s cryptocurrency interests.

The CLARITY Act failed a U.S. Senate procedural vote on September 15, blocking its progress to full Senate consideration. Sen. Cynthia Lummis, a Wyoming Republican, said Democrats opposed advancing the measure even though it contains a provision making cryptocurrency issuers legally liable for false disclosures. Democrats cited what they considered insufficient ethics rules to prevent conflicts of interest connected to President Donald Trump’s cryptocurrency-related interests. Cointelegraph reported Lummis’s comments on September 21.

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