The federal regulatory framework for digital assets hit yet another roadblock when the U.S. Senate failed to advance the CLARITY Act. It fell short in a 49-50 closure, where it needed 60 votes to meet the threshold for it to pass.

The cryptocurrency sector took a major step towards the finish line, giving users more clarity with the historic vote on Capitol Hill. The CLARITY Act has successfully advanced out of the Senate Banking Committee, with the bipartisan voting 15-9.