According to Semafor, the "Clear Act" officially failed during the Senate motion to proceed vote. Despite the industry pouring tens of millions of dollars into lobbying efforts and posing a significant threat to traditional banking, the vote ended in defeat. All Democratic senators voted against the bill, citing concerns that it wouldn't effectively constrain Trump. Even the White House advisors' hopes for Republican unity were shattered—three Republican senators, deeply tied to traditional banking, also voted against it. Analysts point out that after this major setback, it will likely be extremely difficult for the U.S. Congress to initiate long-term, permanent legislation on cryptocurrency regulation before the end of Trump's current term. Lobbyists even bluntly stated that the money spent by the crypto industry on lobbying firms would have been better used to cure cancer. https://www.(wublock123.com)/news/news-68460