US Senate Blocks Crypto Bill Amid Ethics Concerns Involving President Trump

The US Senate has blocked the Clarity Act, a major digital asset market bill, over concerns about ethics and conflicts of interest involving President Donald Trump.

The proposed legislation failed to pass a key procedural vote on September 16, 2026, sending shockwaves through financial markets. Bitcoin plummeted 4 percent to $75,700, while shares of Coinbase and Circle fell 10 percent and 11 percent respectively.

Opposition lawmakers argued that the framework failed to establish proper safeguards against potential conflicts of interest at the highest levels of government, specifically targeting the lack of trading restrictions on policymakers and public executive officers overseeing the market sector.