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Ryan says CLARITY Act can still pass after Senate cloture vote fails 49-50

Crypto.News reports Tim Ryan, a former congressman and Shyft adviser, saying the CLARITY Act can still pass this year after the Senate rejected cloture 49-50 on Sep. 15.

Why it matters

The bill would put federal crypto market structure rules into statute, replacing the piecemeal guidance firms now get from SEC and CFTC enforcement actions, so a lame-duck agreement would change how those firms operate. With one outlet reporting Ryan's comments and no Senate response in this set, the immediate effect is limited to that assessment.

Where the sources disagree

Tim Ryan's role at Shyft

adviser to Shyft

Crypto.News

Shyft Policy Board Member

Crypto.News

Crypto.News describes the former congressman one way in its original piece and another way in the syndicated version.

Key facts

The Senate rejected cloture on a motion to proceed to the Digital Asset Market CLARITY Act on Sep. 15, with 49 senators voting yes, 50 voting no and one not voting.

49 votes in favourReported by Crypto.News

The motion needed 60 votes to advance the CLARITY Act to debate and was a procedural step, not a final vote on the bill.

60 votesReported by Crypto.News

Tim Ryan said lawmakers still have a path to an agreement on the CLARITY Act if they return to negotiations and make concessions.

Reported by Crypto.News

Ryan identified ethics, consumer protection, illicit finance and stablecoin rewards as the concerns that still need to be addressed.

Reported by Crypto.News

Ryan said a deal on the CLARITY Act could be reached in the lame-duck session later this year if both sides are willing to compromise.

Reported by Crypto.News

Ryan said support for clear crypto rules remains bipartisan even though senators have not agreed on the details.

Reported by Crypto.News

Ryan said SEC and CFTC actions can help firms now but legislation would offer firmer long-term rules.

Reported by Crypto.News

One version of the interview describes Ryan as an adviser to Shyft, the other as a Shyft Policy Board Member.

Disputed figureReported by Crypto.News

What happened

Crypto.News reported that Tim Ryan, a former Ohio congressman and Shyft adviser, told the outlet lawmakers still have a path to the CLARITY Act if they return to negotiations and make concessions. The Senate rejected cloture on a motion to proceed to the Digital Asset Market CLARITY Act on Sep. 15, with 49 senators voting yes, 50 voting no and one not voting; the motion needed 60 votes to open debate and was not a vote on final passage. Ryan named ethics, consumer protection, illicit finance and stablecoin rewards as the unresolved points, and said, 'I think there's still a path.' He said support for clear crypto rules remains bipartisan even though senators have not agreed on details, and that a deal could come in this year's lame-duck session if both sides compromise. He added that SEC and CFTC action can help firms now while legislation would supply firmer long-term rules. Crypto.News is the only outlet in this set carrying the account, and the assessment is Ryan's own view rather than a confirmed outcome.

How the story developed

  1. Update

    Senate rejects cloture on motion to proceed to the CLARITY Act

    Forty-nine senators voted yes, 50 voted no and one did not vote, short of the 60 votes needed to open debate.

    Crypto.News

  2. First report

    First report by Crypto.News

    CLARITY Act could still pass this year, former congressman says

    Crypto.News

  3. Update

    Tim Ryan says a CLARITY Act deal remains possible this year

    The former congressman told crypto.news that ethics, consumer protection, illicit finance and stablecoin rewards must be addressed and that a lame-duck agreement is possible.

    Crypto.News

Affected entities

Original sources

PublisherReportRolePublished
Crypto.News
Crypto media
CLARITY Act could still pass this year, former congressman saysOriginal
Crypto.News
Crypto media
CLARITY Act could still pass this year, former US congressman saysSyndicated