Trump ethics fight sinks CLARITY Act in dramatic Senate defeat

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 proposal from reaching the Senate floor.While the vote did not decide the bill’s final passage, falling short leaves the legislation off the floor and forces its sponsors to decide whether another round of negotiations is possible.The outcome was particularly damaging because Democrats who had spent months working on the legislation opposed it. Sens. Kirsten Gillibrand, Mark Warner, Cory Booker, Raphael Warnock, Ruben Gallego, Angela Alsobrooks and Catherine Cortez Masto all voted against moving forward.Their defections followed an unsuccessful attempt to close remaining differences over ethics rules shortly before the vote.Senate staff had reportedly met in the Capitol hideaway office of Sen. Thom Tillis to discuss possible final changes to restrictions governing crypto interests held by public officials. Staff working for Senate Banking Committee Chai...