SENATE VOTES TO BLOCK CRYPTO BILL IN MAJOR BLOW TO THE INDUSTRY

Summary from the TLDR newsletter

The US Senate has voted to block consideration of the Clarity Act, a piece of legislation that would create business-friendly rules for cryptocurrencies. The vote makes it unlikely the legislation will pass anytime soon, if ever. Many Republicans embraced the bill, but Democrats largely opposed it. The Democrats wanted stronger language to prevent public officials from using crypto to make money. President Trump generated $1.4 billion from a network of crypto businesses last year.