US Senate Blocks Crypto Clarity Bill as Industry Lobby Hits Political Limits | Ukraine news - #Mezha

The vote exposed an unexpected coalition in Washington, where campaign spending and intensive lobbying failed to secure a path forward.

On September 16, the U.S. Senate rejected advancing the sweeping “Clarity” crypto bill, demonstrating that the crypto industry’s political influence in Washington has its limits.

Based on data from Reuters

During the procedural vote, the bill failed to secure enough support: 49 senators voted to advance it, while 50 voted against. Four Republicans joined Democrats in opposing the measure.

The bill was intended to create a regulatory framework for the roughly $2 trillion cryptocurrency market and more clearly define which digital assets would be regulated as securities and which as commodities. Crypto companies consider its passage crucial to their future in the United States.

The defeat came despite the crypto industry spending more than $300 million on the 2024 and 2026 election campaigns. The money was used to support pro-crypto candidates as well as nationwide lobbying campaigns.

Analysts, corporate executives and academic researchers believe the crypto industry’s political machine may regroup. It is estimated to still have around $130 million at its disposal.