Senate blocks CLARITY as ethics talks fail
Senate blocks CLARITY as ethics talks failThe procedural defeat delays federal crypto rules and leaves sponsors weighing another round of negotiations.
The Senate has blocked CLARITY from advancing to floor debate, leaving crypto businesses without the federal market-structure framework its sponsors sought. Lawmakers still disagree over officials’ crypto interests and enforcement safeguards. For exchanges and developers waiting on clearer rules, a revised negotiating deal would still need enough support to reopen the Senate path. Elsewhere, CoinEx is winding down as compliance costs strain its business, while US prosecutors are seeking custody of frozen USDT allegedly tied to Iranian oil sales. CoinEx customers face withdrawal deadlines; in the USDT case, authorities can seek the value through Tether without obtaining the original wallets’ private keys. Since YesterdayYesterday’s edition described an unresolved search for 60 Senate votes. The vote report now establishes that the motion failed after ethics talks broke down, including opposition from several Democrats who had helped negotiate the bill. Top News
Trump ethics fight sinks CLARITY Act in dramatic Senate defeatSeveral Democratic negotiators, including Kirsten Gillibrand, Mark Warner and Cory Booker, voted against advancing H.R. 3633 despite the weekend rewrite. Senator Elissa Slotkin separately cited weak ethics restrictions, illicit-finance risks and inadequate CFTC staffing, while remaining open to another attempt. The September 15 vote concerned whether to begin Senate consideration; sponsors now face the unresolved question of whether further concessions can rebuild the coalition. CoinEx quits after 9 years as crypto trading activity concentrates at biggest exchangesCoinEx says shrinking revenue and rising compliance costs made continued operation untenable. Registrations have stopped and futures are reduce-only; the exchange says customer assets remain fully backed as it unwinds services. Tether, Binance and a $1.5 billion Iran oil network converge in new US forfeiture caseUS prosecutors seek approximately 61.2 million frozen USDT allegedly linked to Iranian oil sales. A seizure warrant allows custody through Tether’s token replacement mechanism; Binance is not accused of wrongdoing in the case. What We’re Watching
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