U.S. crypto group steps up midterm pressure after Clarity bill vote fails

After a vote in the U.S. Senate to begin deliberations on the Clarity Act, a broad crypto regulation bill, failed, an industry group is stepping up political pressure aimed at the midterm elections.

On Sept. 17, CoinPost, a blockchain outlet, reported that U.S. crypto industry group Stand With Crypto issued a statement on Sept. 16 expressing disappointment with the outcome and saying it would reflect senators' voting behavior in its scorecard.

The procedure blocked in the Senate was a procedural vote to move into full deliberations on the bill. The Senate failed on Sept. 16 to secure the 60 votes needed to begin considering the Clarity Act, with support limited to 49 votes, and the motion failed. The bill seeks to delineate regulatory authority between the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission and establish a comprehensive regulatory framework for the digital asset market in the United States.

Stand With Crypto described the failed vote as an important political issue for both the industry and voters. Executive Director Mason Lynaugh (메이슨 라이나우) criticised the vote as a "lack of leadership". He said 67 million U.S. crypto holders have been waiting for years for clear rules to safely use, develop and invest in their assets.