Crypto
Senate Blocks Crypto Clarity Act as Bitcoin Price Plummets Below $76K
The U.S. Senate has blocked the $2.3T Crypto CLARITY Act in a 49-50 vote, failing to meet the required 60-vote threshold.
The bill aimed to establish a federal framework for digital assets, clarifying their treatment by the SEC and CFTC.
Bitcoin price dropped below $76,000 following the Senate's decision, with Coinbase and Circle shares also experiencing significant losses.
The failure of the CLARITY Act is seen as a setback for the crypto industry, which had been relying on the bill to provide regulatory certainty.