Clarity Act Fails to Pass Senate as Crypto Industry Reiterates Urgency of Legislation

TechFlow reported on September 16 that, according to CoinDesk, the U.S. Clarity Act failed to clear the 60-vote threshold to end debate in the Senate. In response to this legislative setback, executives from projects including Enso, tZERO, and the Cardano Foundation noted that the vote does not reverse the structural trend toward a compliant digital assets market, with the SEC and CFTC already advancing relevant frameworks within their respective jurisdictions.

However, several executives pointed out that agency regulations lack the durability of statutory law and are highly susceptible to revision with government transitions. As the Senate enters its October recess and the early November election draws near, if the next Congress remains unable to advance clear legislation, companies will continue to face regulatory fragmentation, forcing capital and development teams to migrate to European markets that have already implemented the MiCA framework.