The Clarity Act failed in the Senate 49 to 50; CoinDesk reconstructs what weighed on its collapse
Senator Kirsten Gillibrand had said the bill would not advance without an ethics provision, and Trump disclosed $1.4 billion from his crypto ventures in his first year back in office, according to CoinDesk.
The bill failed a Senate procedural vote: it got 49 votes in favor and 50 against, and needed 60, according to Yahoo Finance. SEC Commissioner Hester Peirce, who leaves the post on October 2, said on September 27 on The Wolf of All Streets that she had expected it to pass and was surprised by the outcome. She added that the SEC can do a lot even without that law, according to Yahoo Finance.
Coinbase CEO Brian Armstrong withdrew his support for the Senate Banking Committee's version in January over the treatment of stablecoin yield. The House had passed its version in July 2025 by 294 votes to 134, but the Senate drafted its own bill, according to CoinDesk.
A last negotiation led by Senator Thom Tillis proposed a full Senate vote on the Tillis and Ruben Gallego ethics clause. It was ended by a staffer for Banking Committee Chairman Tim Scott. A new Congress takes office in January and the process would have to start again, according to CoinDesk.
Sources: CoinDesk · Yahoo Finance