US Senate Blocks CLARITY Act in 50-49 Vote, Crypto Market Bill Stalls

The bill's failure is less about the crypto industry's lobbying power than about the Senate's 60-vote arithmetic, which gives a determined minority effective veto over market-structure legislation. The timing sharpens the signal: a record-high 20-year auction yield the same day suggests macro conditions, not just regulatory gridlock, are weighing on risk assets. Whether the CLARITY Act's supporters can attach its provisions to must-pass legislation, or whether the issue simply waits for a new Congress, is the open question.