As a cloture vote to bring the CLARITY Act to the Senate floor was defeated, Democratic Senator Angela Alsobrooks said discussions on the bill should continue.
The Senate vote on the 15th failed to secure the 60 votes required for passage, with 49 senators voting in favor and 50 against. Senator Alsobrooks voted against the motion.
According to Eleanor Terrett, host of Crypto in America, Alsobrooks said, “The bill will not fail,” adding, “More than 70 million Americans are participating in an unregulated industry, and we have a responsibility to regulate it.”
She criticized Republicans for forcing the vote that day while declining to agree to hold President Donald Trump accountable for what she identified as corruption in the cryptocurrency industry. Alsobrooks was one of two Democratic senators who voted in favor of advancing the bill to the floor during a Senate Banking Committee vote in May.