For a while back there, we dared to dream. But now the CLARITY Act looks to be dead in the water.

The Digital Asset Market Clarity Act failed a procedural cloture vote on 15 September, with 49 senators voting to advance it and 50 opposed, well short of the 60 votes required.

The defeat followed months of bipartisan negotiations over the bill, which sought to establish clearer boundaries between the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) and provide rules governing the classification and trading of digital assets. Democrats remained opposed to the legislation in its final form, citing investor protection and concerns over President Donald Trump’s crypto interests. Four Republicans, Jerry…