【Encryption bill 49 out of 50 failed, Bitcoin drops below $75K 📉】
Group chat: 📲 加入X先生的粉丝群聊
On Tuesday, the U.S. Senate cast a procedural vote on the CLARITY bill.
The result was 49 in favor and 50 against—11 votes short of the 60-vote threshold.
After the news broke, Bitcoin briefly fell below $75,000, dropping more than 5% in a single day.
First, let’s separate one thing: what failed this time was the procedure, not the bill’s content.
A procedural vote only determines whether the bill can be brought to a formal debate in the Senate.
With 49 to 50, it didn’t even get the right to enter debate—the bill was stuck at the door.
What’s truly worth watching is how long the remaining window of time this year is.
Congress has fewer than 36 working days left this year, and there’s a midterm election in November.
If lawmakers want to redo it, it will most likely have to wait until next year, with a new Congress starting the process again.
For crypto, the biggest certainty has been pulled out by this single vote.
Without a federal framework, the regulatory division of labor between the SEC and the CFTC remains unclear.
For institutions trying to enter in a compliant way, they can only wait for approvals one by one—the timeline has been thrown off completely.
Do you think this blockage means the negative impact is already fully priced in once, or that the downturn is just getting started?
Let’s discuss in the comments.
Group chat: 📲 加入X先生的粉丝群聊
On Tuesday, the U.S. Senate cast a procedural vote on the CLARITY bill.
The result was 49 in favor and 50 against—11 votes short of the 60-vote threshold.
After the news broke, Bitcoin briefly fell below $75,000, dropping more than 5% in a single day.
First, let’s separate one thing: what failed this time was the procedure, not the bill’s content.
A procedural vote only determines whether the bill can be brought to a formal debate in the Senate.
With 49 to 50, it didn’t even get the right to enter debate—the bill was stuck at the door.
What’s truly worth watching is how long the remaining window of time this year is.
Congress has fewer than 36 working days left this year, and there’s a midterm election in November.
If lawmakers want to redo it, it will most likely have to wait until next year, with a new Congress starting the process again.
For crypto, the biggest certainty has been pulled out by this single vote.
Without a federal framework, the regulatory division of labor between the SEC and the CFTC remains unclear.
For institutions trying to enter in a compliant way, they can only wait for approvals one by one—the timeline has been thrown off completely.
Do you think this blockage means the negative impact is already fully priced in once, or that the downturn is just getting started?
Let’s discuss in the comments.
