Crypto Legislation in Trouble? Experts React After CLARITY Act Vote

The CLARITY Act vote was meant to put the U.S. crypto industry on a path toward permanent federal rules. However, but the Senate voted 49-50 against advancing the legislation, falling far short of the 60 votes needed to clear the hurdle.

The immediate industry reaction was disappointment, but not panic. Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, former CFTC Chair J.

Christopher Giancarlo and several leading crypto policy executives all reached variations of the same conclusion: Congress may have stalled, but crypto regulation has not.

Read more: Crypto Vote: Why the CLARITY Act Just Failed in the Senate Their disagreement is mostly on where the action will be next — another attempt at legislation, aggressive SEC and CFTC rulemaking or another long period of industry without permanent statutory protection.