Crypto Market Braces for Key Events: CLARITY Act Vote and Fed Rate Decision
The global cryptocurrency market is preparing for a week of significant events that could impact Bitcoin and other digital assets. The U.S. Senate will vote on the CLARITY Act, which aims to regulate cryptocurrency trading platforms. Meanwhile, the Federal Reserve will announce its latest interest rate decision, with market expectations indicating a 25-basis-point hike.
The CLARITY Act, if passed, would introduce new ethics rules and regulations for cryptocurrency trading platforms. Senator Cynthia Lummis has released the final draft of the bill, which contains over 120 changes requested by Democrats. The passage of the bill has increased to 44% according to prediction market odds.
On Thursday, the U.S. will release its weekly jobless claims data, with expectations indicating a rise to 209,000. Higher claims could point to a weaker economy, which may affect Bitcoin and other cryptocurrencies.