Crypto Industry Shifts Focus To Regulators After Clarity Act Vote Fails

Crypto industry leaders are turning to U.S. financial regulators to provide clarity after the Clarity Act failed to advance in the Senate, falling short of the 60 votes needed in a 49-50 cloture vote Tuesday amid Democratic concerns over the president’s crypto investments.

Industry Leaders Look To SEC And CFTC

Ripple’s CEO said there’s still reason for optimism, pointing to the SEC under Chair Paul Atkins and the CFTC under Chair Selig continuing to develop rules to fill the legislative gap, with the industry planning to stay engaged in that process. However, other executives warned this path offers only limited relief. NEAR’s chief legal officer said rejecting the bill leaves firms dependent on shifting agency guidance rather than permanent law, creating ongoing uncertainty for companies planning ahead. Bitget Wallet’s COO echoed similar concerns about unclear rules governing securities, commodities and money transmission across different crypto products.

Bill’s Path Forward Remains Uncertain

Senator Thom Tillis has moved to reconsider Tuesday’s failed vote, keeping a procedural path open, though industry opinion is split on the bill’s near-term prospects. One legal executive called the outcome a delay rather than a final defeat, noting complex legislation rarely passes in a straight line. Others were less optimistic, suggesting the next Congress may be the more realistic opportunity given the Senate and House’s limited remaining session time before the November elections. Prediction market odds of the bill becoming law in 2026 fell to just 5% following the vote, the lowest level recorded since betting opened in January.