CLARITY Act on track to fail procedural hurdle in the Senate (as expected); vote ongoing

The market structure effort has followed this pattern through prior committee and floor rounds, with passage hinging less on crypto-specific provisions than on the familiar sticking points, partisan staffing and jurisdiction splits between banking and agriculture, and the calendar squeeze that tends to resolve these bills in year-end vehicles rather than as standalone measures. That the failure was expected means the repricing risk sits not in the vote itself but in any sign that sponsors stop pushing for reconsideration or that leadership declines to reschedle floor time. The tells to watch are the vote margin against the sixty-vote threshold, since a near miss implies a small number of gettable senators, and whether industry concessions or amended text surface afterward. For crypto-exposed names, the established pattern is that procedural setbacks produce modest, short-lived moves while genuine abandonment of the bill is the bear case that has historically mattered.