Senate Rejects Second War Powers Resolution as Bitcoin Sinks and Crypto Sanctions Tighten

The US Senate voted down a second war powers resolution aimed at limiting President Donald Trump's authority over Iran, rejecting it by a narrow margin of 47-50-1.

This vote, which occurred on June 25, 2026, was closer than the first attempt, but still a comfortable win for the White House. Two Republican senators, Rand Paul and Bill Cassidy, defied Trump's public pressure to support the resolution, but their efforts were not enough.

The conflict with Iran has escalated significantly, with US military actions including the sinking of an Iranian warship, resulting in dozens of sailor deaths. This escalation was reflected in Bitcoin's price, which fell over 3% below $62,000 in early July 2026, following Trump's comments suggesting a tentative ceasefire was no longer operative.

In related news, US authorities have been quietly enforcing sanctions on Iran through crypto assets. The Treasury froze at least $344 million in Iranian-linked crypto assets, with some reports placing the total figure as high as $7.7 billion. This development has raised concerns for investors holding crypto, who face two distinct risk layers: market volatility tied to geopolitical headlines and regulatory scrutiny from expanded sanctions enforcement.