Senate Rejects CLARITY Act, Bitcoin Falls Below $76,000

The US Senate failed to advance the Digital Asset Market Clarity Act, which aimed to create a federal framework for crypto markets. The cloture vote on the motion to proceed fell short by 11 votes, requiring 60 votes to move forward.

The bill's defeat leaves regulatory efforts unresolved and removes an immediate path to floor debate. Bitcoin had already started declining before the vote, hitting an intraday low of $74,967.97 on September 15, after falling below $76,000 earlier in the day.

Bitcoin's decline continued throughout the day, with the altcoin market cap tumbling 3.6% to stay above $1.15 trillion. Traders were also preparing for a Federal Reserve decision, adding pressure across risk assets.