Senate Stalls Cryptocurrency Bill, Crypto Stocks Plummet
Bitcoin prices dropped by around 4% to $75,908 on Tuesday after the US Senate failed to advance comprehensive cryptocurrency legislation.
The bill, which had been championed by Republicans for months, would have provided regulatory clarity for digital asset companies and was seen as a major opportunity for growth in the sector.
Coinbase and Circle Internet Group were among the hardest hit, each falling around 9% on the news.