Cryptocurrencies

Trump's $1.4 Billion Crypto Haul Sinks the Senate's Crypto Bill

The Clarity Act's ethics provisions leave plenty of room for the president to keep profiting, and its regulatory framework hands bureaucrats too much discretion.

Tosin Akintola | 9.17.2026 5:00 PM

Share on FacebookShare on XShare on RedditShare by emailPrint friendly versionCopy page URL Add Reason to Google

Media Contact & Reprint Requests

(Illustration: Kall1st0/Envato/Jianqing Gu/Dreamstime)

A failed Senate procedural vote on the Digital Asset Market Clarity Act on Tuesday may have saved crypto consumers from a questionable regulatory bill backed by industry insiders. 

The bill—a first-of-its-kind regulatory framework for the crypto industry—would have drawn clear jurisdictional lines between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on regulating the offer and sale of digital commodities.

Instead of the SEC regulating crypto through individual enforcement—which it currently does—the bill would give Americans holding digital assets a pathway to legal certainty by establishing disclosure requirements, preserving both agencies' anti-fraud authorities and creating risk-management, cybersecurity, and compliance standards for decentralized finance. 

Still, the bill also gives federal agencies far too much discretion, authorizing them to set new regulations and exemptions........

© Reason.com