The CLARITY Act failed to advance in the Senate on Tuesday after receiving fewer than the 60 votes needed to bring it to the floor for debate, narrowing its path this year ahead of the Nov. 3 midterm elections. Saxo strategist Ruben Dalfovo said Coinbase is especially exposed because its trading business is directly tied to US market-structure rules. Other headline items concern the SEC's move toward tokenized stocks and deeper crypto-industry involvement in payments.