SENATE CLOTURE VOTE ON CLARITY ACT FAILS

Summary from the TLDR Crypto newsletter

The Senate failed a cloture vote Tuesday on the Clarity Act, falling short of the 60-vote threshold needed to advance the Digital Asset Market Structure bill to a floor debate. The bipartisan legislation would have created a statutory test for classifying crypto assets as securities or commodities and granted the CFTC expanded jurisdiction over digital asset spot markets, resolving a multi-year jurisdictional dispute with the SEC. The procedural defeat leaves both regulators operating under enforcement-driven guidance rather than a congressional mandate, pushing any market structure resolution into the next legislative session at the earliest.