The Clarity Act fails to advance! (Crypto Series Part XLI)
This is part 41 of the crypto series. The Clarity Act failed to advance out of the U.S. Senate. The measure failed on a 50-49 vote. It needed 60 votes to pass. Every democrat and three republicans voted against it. The failure puts the bill in serious jeopardy with the midterm elections coming up in November and the House of Representatives in recess until after the election. Who is to blame? The crypto industry appears to be placing the blame on Brian Armstrong, the CEO of Coinbase. There was a strong chance of getting this legislation passed in January of this year, but Armstrong pulled his…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.