regulation -
Senate Fails To Pass CLARITY Act
A procedural floor vote falls short of 60 votes, leaving market structure rules and developer safe harbors uncodified.
The Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act after a floor procedural vote tallied 47 Yea votes to 47 Nay votes (unofficial), falling short of the 60 votes required to overcome a filibuster. Introduced in May 2026 by Senate Banking Committee Chairman Tim Scott, the bill proposed a federal regulatory framework splitting oversight between the CFTC for digital commodities and the SEC for digital asset securities. The legislation advanced out of the Senate Banking Committee on a 15-9 vote.
For crypto operations, the bill codifies self-custody rights, banned interest on idle stablecoins while allowing activity rewards, and integrated Blockchain Regulatory Certainty Act language that united founders behind Section 604 protections. The terms would shield non-custodial developers, smart contract deployers, and node operators from financial intermediary registration.
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