Senate Blocks Crypto Market Structure Bill, Sends Bitcoin Lower

The U.S. Senate has blocked the Crypto Market Structure Bill, also known as the Clarity Act, after a procedural vote failed to reach the required 60 votes.

The bill aimed to clarify the boundaries of oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) for digital assets.

Democrats opposed the legislation, citing concerns about conflicts of interest, particularly with President Donald Trump's family profiting from crypto businesses. Republicans responded by strengthening provisions to prevent such conflicts, but the bill still failed to pass.

The vote was 49 in favor and 50 against, falling short of the needed 60 votes. The bill has not been scrapped, however, and another vote remains possible after further talks between the two parties.