Trump family's crypto riches derailed the Clarity Act

The Clarity Act, which would have placed most crypto trading under light-touch CFTC oversight, failed a Senate procedural vote on September 15, 2026, falling short of 60 votes. Democratic support eroded amid revelations about the Trump family's crypto businesses. The industry is now pivoting to regulation-by-agency instead of legislation.

• Clarity Act failed a Senate procedural vote on September 15, 2026
• The House passed its version 294-134 in summer 2025
• Crypto industry spent over $119 million backing candidates in 2024
• Trump signed the GENIUS Act on stablecoins in July 2025