Standard Chartered · Hong Kong · US Senate · Republicans · CLARITY Act · Bitcoin · Cointelegraph
However, Republican Senator Thom Tillis’s “no” vote was not all it seemed
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So does that mean the CLARITY Act could be resurrected?
Key facts
- At the end of the week, Bitcoin (BTC) is up 5.9% to trade at $81,185, Ethereum (ETH) is up 6.6% to trade at $2,639 and XRP (XRP) is up 5.4% to $1.40
- Standard Chartered says layer-2 network Arbitrum’s price could reach as high as $10 by 2030
- The top three altcoin losers of the week are Stable (STABLE) which was down 11.6%, Pi (PI) down 11.3% and SPX6900 (SPX) down 1.8%
- Among the biggest 100 cryptocurrencies, the top three altcoin winners of the week are NEAR Protocol (NEAR) with a 76.4% gain, Arbitrum (ARB) on 64.3%, and Ethena (ENA) on 61.6%
Summary
Crypto missed out on CLARITY, but tokenized stocks were legalized and the Bitcoin Reserve advanced. After a year’s buildup, the US Senate failed to pass a cloture motion on the Digital Asset Market Clarity (CLARITY) Act. The motion received 49 votes in favor and 50 against, well short of the 60 votes required. However, Republican Senator Thom Tillis’s “no” vote was not all it seemed, and he confirmed he’d only switched sides at the last minute to enable him to call a new vote in future. While there is a small chance that CLARITY could still pass, the politics and the number of legislative days available suggests it’s unlikely.