Senate | Crypto

The circulated proposal would give eligible dollar-stablecoin purchases no-gain/no-loss treatment without a stated value cap, while ordinary Bitcoin spending retains disposition reporting. The post Senate tax bill frees stablecoin spending while Bitcoin stays on IRS forms appeared first on CryptoSlate.

Tether says it helped freeze nearly $550 million in Iran-linked USDT during 2026, while Democratic investigators on a Senate subcommittee allege that delays in blacklisting some identified wallets let tens of millions of dollars keep moving. A preliminary report released Sept. 28 by Democratic minority staff of the Senate Permanent Subcommittee on Investigations analyzed 846 […] The post Tether claims $550 million in Iran freezes, but $35 million slipped past Senate appeared first on CryptoSlate.

A rogue OpenAI research agent bypassed blocks on the Australian government health-data portal, accessing non-public files in June. The CEOs of OpenAI and Anthropic have reportedly been summoned to appear at an Australian Senate inquiry into AI, just days after news broke that a rogue OpenAI bot had hacked the country’s health data. The Australian Medicare breach is one of the highest-profile incidents of AI agents accessing external systems outside the US, according to a Sunday Business World report. OpenAI’s Sam Altman and Anthropic’s Dario Amodei were asked to appear at the inquiry in Canberra on Thursday, the report said. Read more

Four Republican senators who voted to advance the CLARITY Act on Sept. 15 also appear as named supporters on a bank-backed amendment seeking tougher restrictions on stablecoin yield. As Punchbowl News reported on Sept. 21, John Cornyn, John Curtis, Cindy Hyde-Smith, and Lisa Murkowski all voted “Yes” on the procedural motion, which fell short 49-50. […] The post CLARITY Act needs 11 more Senate votes, but 4 of the 49 it already has want the bill changed appeared first on CryptoSlate.

A million-plus contacts showed mobilization; the 49-50 Senate defeat showed why reach alone cannot deliver a bipartisan coalition. The post Stand With Crypto’s 4 million registered advocates couldn’t get the CLARITY Act through the Senate appeared first on CryptoSlate.

The 49-50 cloture defeat stalled the bill, while the crypto selloff and liquidations had already begun before the vote. The post Bitcoin drops below $76,000 as Senate rejects CLARITY Act motion appeared first on CryptoSlate.

Circle and Coinbase shares fell about 10% as the failed Senate vote weighed on crypto-linked equities, with Bitcoin miners and treasury companies also declining. Crypto-linked stocks fell sharply on Tuesday after the US Senate failed to advance the CLARITY Act, with shares of Circle and Coinbase dropping about 10%. Bitcoin treasury companies were also hit, with American Bitcoin falling around 8%, while Strategy and Strive each declined about 5%, according to Yahoo Finance data. Bitcoin miners joined the selloff, with Riot Platforms falling about 6%, CleanSpark nearly 5%, Hut 8 more than 4% and IREN almost 4%. Coinbase (COIN) shares fell 9.9% on Tuesday. Source: Yahoo Finance Read more

Coinbase, Circle and Galaxy lead a broad crypto stock selloff after the U.S. Senate failed to advance a long-awaited market structure bill.

The CLARITY Act stalled in the Senate after a final round of bipartisan negotiations broke down and several Democrats who helped shape the bill refused to advance it. The measure failed to secure the 60 votes needed to invoke cloture on the motion to proceed with H.R. 3633, preventing the most consequential US crypto market-structure […] The post Trump ethics fight sinks CLARITY Act in dramatic Senate defeat appeared first on CryptoSlate.

The crypto market structure bill failed to receive enough votes to advance in the Senate.

The failed procedural vote leaves the CLARITY Act facing an uncertain future after months of negotiations over crypto oversight and ethics provisions. The US Senate on Tuesday failed to pass a cloture motion on the Digital Asset Market Clarity (CLARITY) Act that would have established the country’s first regulatory framework for digital assets. The motion received 49 votes in favor and 50 against, short of the 60 votes needed to advance the legislation to debate on the Senate floor. With less than 36 days of business before 2027, when a new session of Congress is scheduled to be sworn in after November’s midterm elections, the bill will likely not see further action for the rest of the year. Read more

As the parties dig in their heels, the market structure bill hasn't yet amassed the votes it would need to clear the first Senate hurdle scheduled for Tuesday.

The CLARITY Act is heading toward a critical Senate vote with no clear coalition capable of delivering the 60 votes it needs. Expectations for the landmark crypto market-structure bill deteriorated sharply Tuesday, with Polymarket odds of enactment falling below 20% after reaching about 34% during the previous 24 hours. The reversal coincided with signs that […] The post CLARITY Act chances sink below 20% as Senate’s path to 60 votes narrows appeared first on CryptoSlate.

Those groups carry nearly three-quarters of realized capital as Binance sees heavy two-way flows before the Senate’s Sept. 15 CLARITY cloture test. The post XRP’s path back to $2 now hinges on whether the Senate passes the CLARITY Act appeared first on CryptoSlate.

Opposition to the CLARITY Act widened on Sept. 14 as banks, Democrats, state attorneys general and developer advocates rejected key compromises. The backlash came hours after Senate Republicans released what they described as their final version of the landmark crypto market-structure bill, incorporating 126 substantive changes Democrats requested and new provisions to resolve disputes over […] The post CLARITY Act’s ‘final’ deal is already breaking down before tomorrow’s Senate vote appeared first on CryptoSlate.

Trump’s ethics concession addresses one hurdle for the crypto bill, but 18 state attorneys general say the revised legislation would weaken state oversight. The CLARITY Act is heading for a crucial US Senate procedural vote on Tuesday after President Donald Trump agreed to most of a bipartisan proposal to strengthen ethics restrictions around public officials’ crypto interests, according to various reports. However, the latest compromise hasn’t resolved all of the opposition, with a bipartisan group of state attorneys general now urging senators to reject the bill over concerns that it would weaken state oversight of the crypto industry. A coalition of 18 state attorneys general, led by New York Attorney General Letitia James, argued in a letter to Senate Banking committee leaders that the CLARITY Act would make it harder for states to take action against crypto companies accused of fraud or other misconduct. Read more

Senate Republicans rewrote key parts of the CLARITY Act as they made a final push for Democratic votes Tuesday. “This text is truly bipartisan and includes more than 120 of Democrats’ demands,” Sen. Cynthia Lummis said Monday as she, Senate Banking Committee Chairman Tim Scott and Senate Agriculture Committee Chairman John Boozman released the final […] The post Here’s what’s new in the final CLARITY Act before Tuesday’s Senate vote appeared first on CryptoSlate.

The CLARITY Act’s chances of becoming law climbed above 32% as Senate Republicans unveiled their final compromise before Tuesday’s cloture vote. Polymarket traders pushed the probability of the landmark crypto market-structure legislation being enacted in 2026 to its highest level since Aug. 2 after Republicans released a 635-page final draft designed to resolve several disputes […] The post Trump concession sends CLARITY Act odds above 32% before make-or-break Senate vote appeared first on CryptoSlate.

The Sept. 15 cloture vote would open negotiations while ethics, stablecoin rewards and Tribal demands remain unresolved. The post CLARITY Act’s biggest Senate vote could happen before the bill is actually finished appeared first on CryptoSlate.

Secretary Scott Bessent warned that failing to pass the CLARITY Act would send a “troubling signal” about America’s leadership in the digital asset industry. US Treasury Secretary Scott Bessent urged lawmakers to pass the Digital Asset Market Clarity (CLARITY) Act when the Senate returns from its August recess next week. “I strongly urge everyone to remain at the negotiating table, agree to the motion to proceed, and continue the legislative process,” wrote Bessent in a Wednesday X post, warning that failing to pass the bill would send a “troubling signal” about America’s leadership in the digital asset industry. The Senate is scheduled to return from its August recess next Monday, according to its legislative schedule. The CLARITY Act seeks to establish the first comprehensive regulatory framework for digital assets in the US. Read more