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● LIVE Updated 1h ago · 6 sources tracked

‘People are pissed’: Crypto’s political agenda hits a wall

The US Senate voted to block the Clarity Act, a key legislative effort for the cryptocurrency industry. Following the bill's failure, the crypto sector is shifting its strategy away from Congress and toward Trump-appointed regulators. Coinbase CEO Brian Armstrong stated that another path exists despite the legislative impasse. While the industry previously viewed Donald Trump as a savior, critics argue that his own crypto business interests contributed to the bill's defeat.

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⚡ Key Developments & Real-Time Context
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  • ✓ The Senate voted to block the Clarity Act.
  • ✓ The crypto industry is shifting its focus toward Trump regulators following the Senate vote.
  • ✓ Coinbase CEO Brian Armstrong said there is another path after the Clarity Act failed.
🛡️ Source Corroboration: 6 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

The Senate officially voted to block the Clarity Act, prompting Coinbase and other industry leaders to pivot toward Trump regulators.

Live updates

  1. Senate Blocks Crypto Clarity Act as Industry Shifts Focus to Regulators

    The US Senate voted to block the Clarity Act, a key legislative effort for the cryptocurrency industry. Following the bill's failure, the crypto sector is shifting its strategy away from Congress and toward Trump-appointed regulators. Coinbase CEO Brian Armstrong stated that another path exists despite the legislative impasse. While the industry previously viewed Donald Trump as a savior, critics argue that his own crypto business interests contributed to the bill's defeat.

    Why it matters

    The Clarity Act aimed to provide a formal regulatory framework for digital assets. This failure represents a significant setback for an industry that attempted to secure legislative wins through political influence. The shift toward executive regulators suggests a move toward administrative rule-making rather than statutory law.

    What is confirmed

    • The Senate voted to block the Clarity Act.
    • The crypto industry is shifting its focus toward Trump regulators following the Senate vote.
    • Coinbase CEO Brian Armstrong said there is another path after the Clarity Act failed.

    Still unconfirmed

    • Donald Trump's self-enrichment through his crypto business killed the crypto bill.
    • The crypto industry tried to buy Congress.

    What to watch next

    • Actions taken by Trump-appointed regulators regarding crypto oversight
    • Further public statements from Brian Armstrong on the alternative path to regulation
    Sources used for this update (7)
    1. The New York Times — Senate Votes to Block Crypto Bill in Major Blow to the Industry
    2. CNN — The crypto industry saw Trump as its savior. His crypto business just snagged a key bill
    3. Politico — Crypto tried to buy Congress. It failed.
    4. Yahoo Finance — Coinbase CEO Brian Armstrong is moving past the Clarity Act's failure: 'There's another path'
    5. The Hill — Trump regulators eye crypto after Clarity Act impasse
    6. Nevada Current — NV senators voted against it, but Trump’s flagrant self-enrichment is what killed the crypto bill
    7. The Hill — Crypto shifts focus to Trump regulators after coming up short in Senate
    confidence 90%
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