Senate Setback Leaves CLARITY Act Facing Long-Shot Revival

The CLARITY Act failed to reach the Senate's 60-vote cloture threshold, creating a significant setback for the legislation. Despite this, seven Democrats refuse to abandon the act, and a motion to reconsider allows for a potential lame-duck revival. Trace Finance co-founder Bernardo Brites notes that while this is not fatal for crypto, institutional participation may remain on the sidelines longer than anticipated. The act now faces a long-shot path toward revival in the Senate.