The Senate on September 15, 2026, voted 49-50 to reject cloture on the motion to proceed to the CLARITY Act, a sweeping bill intended to establish a federal framework for U.S. crypto markets. The vote was not on the bill's final text: cloture (the threshold for ending debate) required 60 votes before senators could consider amendments and final passage. Every Democratic senator and independent who voted opposed the motion, while Republicans Susan Collins, Josh Hawley, Jerry Moran and Thom Tillis also voted no. The central disputes involved ethics rules governing President Trump and presidential trust funds, stablecoin rewards and their potential effect on bank deposits and lending, and the Senate's 60-vote threshold. Republicans said they had made more than 100 concessions, including stronger restrictions on federal officials issuing digital assets and expanded enforcement language, while Democrats including Senator Mark Warner and Senator Elizabeth Warren argued the safeguards did not go far enough. Banking groups also objected to a provision requiring the Treasury to act only if stablecoin incentives caused substantial harm to community banks. The bill would have clarified responsibilities between the SEC (U.S. securities regulator) and the CFTC (U.S. derivatives regulator), while addressing DeFi, anti-money-laundering rules and ethics provisions. Bitcoin fell more than 5%, while Coinbase and Circle shares dropped by as much as 10%. The measure is not formally dead because Tillis switched his vote for procedural reasons and preserved the ability to seek reconsideration, but Congress is preparing to adjourn for the election campaign and the November midterm outcome is uncertain. Supporters must quickly find a new compromise on banking, stablecoin and presidential ethics provisions.