The CLARITY Act has stalled in the Senate after a motion to invoke cloture on the crypto bill failed to reach the 60-vote threshold. This represents a major setback for the crypto bill, with the odds of passage sharply declining on the back of this development. The U.S. Senate failed to invoke cloture on the motion to proceed with consideration of the crypto bill, a major setback to passing it this year. The failure to invoke cloture followed Republicans’ rejection of Democrats’ counterproposal on the bill.