CLARITY Act · Bitcoin · US Senate · The Block
While one Republican Senate aide told The Block that they think the bill is now dead, Republican Sen
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"The vote is not a setback of the technology or direction of travel but more how ethical provisions and banking incumbents are concerned on protecting their market," said Wincent Senior Director Paul Howard, who added that having the U.S. legislative body debate crypto market structure is a feat in itself.
Key facts
- Ethereum ETH -4.27% ETH -4.27% $2,405.18 See Details and other major altcoins saw sharper declines, ether fell 4.5%, XRP XRP -9.36% XRP -9.36% $1.29 See Details tumbled 9.2%, and Solana SOL -4.65%
- Bitcoin BTC -2.48% BTC -2.48% $75,930.84 See Details and the wider cryptocurrency market dipped as the U.S. Digital Asset Market Clarity Act failed to clear a Senate procedural vote earlier on Tuesday
- s crypto price page, bitcoin dropped 2.85% in the past 24 hours to trade at $75,756 as of 10:20 p.m
- Coinbase C COIN -10.10% closed down more than 10% on Tuesday, and USDC issuer Circle fell 11.4%
Summary
Bitcoin BTC -2.48% BTC -2.48% $75,930.84 See Details and the wider cryptocurrency market dipped as the U.S. Digital Asset Market Clarity Act failed to clear a Senate procedural vote earlier on Tuesday. The downturn coincided with the Clarity Act stalling in a Senate gridlock, as lawmakers voted 49-50 against the bill in a procedural cloture vote on Tuesday. "This one stings," said Ripple CEO Brad Garlinghouse in a post on X, calling for a serious review of why the bill failed to pass.