US Senate Blocks CLARITY Act, Crypto Market Suffers

The US Senate failed to advance the CLARITY Act after a cloture vote recorded 39 votes in favor and 36 against, falling short of the required 60 votes.

The crypto market reacted negatively to the news, with major digital assets like Bitcoin, Ethereum, XRP, Solana, and BNB experiencing daily losses.

Bitcoin dropped by 3.7% over 24 hours, trading near $75,942.93, while Ethereum fell 5.2% daily and 3.5% weekly, trading at $2,403.95.

Crypto market analyst Ted Pillows predicted that the legislative process would be pushed into 2027 if the CLARITY Act failed to advance.