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International Business Times UK

Politics

Dani Oh

Senate Blocks Crypto Clarity Act After Letitia James and 17 State AGs Warn of Fraud Risks

Letitia James Crypto Ethics Republican

The Senate blocked the CLARITY Act from advancing after a 49–50 cloture vote fell short of the 60 votes needed to open debate (Credit: Forbes Breaking News/YouTube)

The US Senate blocked the Digital Asset Market Clarity Act from advancing on Tuesday after a 49–50 cloture vote fell 11 votes short of the 60 needed to open debate on H.R. 3633. No Democrat voted to advance the bill, while four Republicans, Susan Collins, Josh Hawley, Jerry Moran and Thom Tillis, also voted against it.

The defeat came a day after New York Attorney General Letitia James led 17 other attorneys general in warning senators that the bill could weaken states' ability to pursue cryptocurrency fraud.

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