Senate Votes to Block Crypto Bill in Major Blow to the Industry

A sweeping bill that would create business-friendly rules for cryptocurrencies stalled in the Senate on Tuesday, a major blow to the crypto industry’s plans in Washington.

The Senate voted 50 to 49 to block consideration of the Clarity Act, a high-profile piece of legislation that was shaped by crypto executives over months of negotiations with Congress and the White House. The bill passed in the House last year, but it has faced numerous delays in the Senate.

The vote on Tuesday was a stinging defeat for the industry that makes it unlikely the legislation will pass anytime soon — if ever. With the midterm elections coming up in November, the window to advance it is closing rapidly, despite more than $100 million in political spending by crypto companies.

While many Republicans embraced the bill, Democrats largely opposed it. Many of their concerns centered on President Trump, who generated $1.4 billion from a network of crypto businesses last year. Democrats wanted stronger language to prevent the president and other public officials from using crypto to make money.

Article source: https://www.nytimes.com/2026/09/15/technology/senate-blocks-crypto-bill.html