Sept 16: The CLARITY Act Failed. Trump Gave Democrats the Political Opening They Needed.
Published: September 16, 2026
Duration: 24:58
The Senate failed to advance the CLARITY Act in a 49-50 cloture vote, well short of the 60 votes required. Democrats centered their opposition on ethics concerns surrounding President Trump's crypto businesses, while Republicans argued they had already incorporated 126 substantive Democratic requests. Three Republicans opposed advancement on substantive grounds, while Thom Tillis switched his vote for procedural reasons that preserve the possibility of reconsideration. Matt argues that Trump's crypto interests gave Democrats an obvious political opportunity, while also questioning provisions designed to protect banks from stablecoin competition.
The failure leaves major questions unresolved for altcoins, exchanges, DeFi, t...