UMINERS – Making Mining Easy

🇺🇸Failure of Crypto Clarity Act Cloture Vote Not a Surprise The outcome of yesterday’s Clarity Act cloture vote was not unexpected. There was little bipartisan support leading up to it. Late Sunday night, Republican Senators released the final version of H.R. 3633, the Digital Asset Market Clarity Act, which included additional ethics concessions from the White House and limitations related to BRCA as a nod to law enforcement. On Monday morning, industry executives were hopeful and momentum grew. At the Solana Policy Institute Summit in Washington DC that afternoon, anticipation was high. Senator Cynthia Lummis (R-Wyo.), who is retiring in a few months, said Democrats had not been negotiating in good faith:

“It’s time to vote now. This is as good as it’s going to get… This is the right product at the right time.”

By evening, reports emerged that Senate Democrats would introduce their own version of the bill. With the procedural vote less than 24 hours away, the path to 60 votes looked weak — though there were signs that Senator Kirsten Gillibrand (D-NY) was urging fellow Democrats to support it. On the morning of the Tuesday vote, Republicans largely dismissed the Democratic counteroffer. The result was as expected, with a few twists: all Democrats (including Gillibrand) voted against the measure, and three Republicans also voted no. Shortly before the vote closed, Senator Thom Tillis (R-NC) changed his “yes” vote to enter a motion to reconsider. This leaves open the possibility of another cloture vote after the midterms. ― Subscribe 🏆 @uminers