Clarity Act blocked 49-50 in Senate… McHenry acknowledges responsibility for splitting legislation

The CLARITY Act, which would set the legal boundary between SEC and CFTC oversight of digital asset issuance and sales, failed to clear a Senate procedural vote on September 15 by 49-50, falling short of the 60 needed to open debate. The bill had passed the House 294-134 in July 2025 and advanced through the Senate Banking Committee 15-9 in May 2026, but stalled at the chamber-wide hurdle. Senator McHenry acknowledged responsibility for splitting the legislation, signaling that narrower pieces may move separately. The outcome leaves the U.S. crypto market without a statutory framework dividing securities and commodities jurisdiction, prolonging regulatory uncertainty for token issuers and exchanges. What to watch next is whether Republican leaders bring up stripped-down versions covering market structure or stablecoins, and whether the 49-vote coalition can be rebuilt around those narrower bills.