The Digital Asset Market Clarity Act was always doomed to fail.
The bill faced an uphill battle from launch; numerous political, policy and social factors would have needed to fall into place for it to succeed. In the end, a variety of issues combined to continually decrease the odds of its passage over the past year. Ultimately, the bill saw bipartisan opposition when it hit the Senate floor for a key make-or-break procedural vote earlier this month, and its future is now in limbo.
There had been warning signs for months.
According to interviews conducted with more than a dozen industry participants and legislative aides over the past 10 days — some of whom spoke on condition of anonymity so they could talk candidly about this fraught process — a confluence of factors killed the Clarity Act.
The Senate ignored the House of Representatives’ own Digital Asset Market Clarity Act, which had passed with a massive bipartisan vote; the…
