Senate blocks Clarity Act, a bill to set business-friendly crypto rules

The Senate voted to block the Clarity Act, which would create business-friendly cryptocurrency rules, The New York Times reports. Democrats raised concerns about President Trump’s personal crypto investments, according to the paper.

A user discussing the setback urges crypto companies to expand under the current administration, arguing that guidance from the SEC and CFTC could be undone by a future administration or new agency leaders.