Senate Fails to Advance Cryptocurrency Regulation Bill
The US Senate failed to advance comprehensive cryptocurrency legislation, dealing a major blow to digital asset companies and Republicans who championed the bill.
Coinbase and Circle Internet Group were down about 9% on Tuesday, while Bitcoin fell by around 4% to $75,908.
The failure of the regulatory bill is a significant setback for cryptocurrency advocates, who had been pushing for clearer guidelines and regulations in the space.