Cynthia Loomis: The CLARITY Act already covers anti fraud responsibilities for digital assets, but the Senate vote did not pass

US Senator Cynthia Loomis stated that the CLARITY Act has extended the anti fraud liability under Section 17 (a) of the Securities Act to digital asset disclosures. The Democratic Party demanded that issuers of encrypted assets apply the same fraud liability standards as other securities filing entities, but on September 15th, the Senate's procedural vote to advance the bill did not reach the 60 vote threshold, and the bill was not passed.