CLARITY Act Fails Senate Vote, Sending Bitcoin Prices Tumbling

A key US bill to establish a comprehensive regulatory framework for virtual assets has failed a procedural vote in the Senate, blocking the CLARITY Act from advancing to a full floor vote.

The defeat of the legislation sent leading virtual asset prices tumbling, Bitcoin and Ether both fell sharply on the news. Bitcoin market prices were visible on the electronic board at the Bithumb Lounge Gangnam branch in Seocho-gu, Seoul, on Wednesday morning.