CLARITY Act Falls Short in Senate Vote, Crypto Stocks Plummet

The CLARITY Act, a key bill for regulating digital assets, failed to pass in the Senate on Tuesday. The vote was 50-49 in favor, falling short of the required 60-vote threshold.

Four Republican senators, Jerry Moran, Susan Collins, Josh Hawley, and Thom Tillis, joined Democrats in voting against the bill.

Patrick Witt, Executive Director of the President's Council of Advisors for Digital Assets at the White House, called the vote 'a major disappointment' and 'a failure of American leadership.'

BTC prices fell more than 3% to $75,792.30 on Tuesday, while cryptocurrency-related stocks declined sharply.