CLARITY Act blocked in the Senate, delaying prospects for a unified U.S. crypto regulatory framework
🏛️ The U.S. Senate failed to reach the 60 votes needed to open debate on H.R. 3633, with the cloture vote ending 49–50. This was a procedural vote on the motion to proceed, not a vote to pass the bill itself.
📑 All 49 votes in favor came from Republicans, while no Democrat or independent voted Yea. Sponsors had previously incorporated 126 changes into the final text, but disagreements over ethics and conflicts of interest remained unresolved.
🔄 Thom Tillis then moved to reconsider, preserving a procedural path for another vote. However, this does not change the requirement to secure 60 votes.
📉 BTC fell around 3–4% after the result, while COIN and CRCL dropped close to 9%. Treasury yields, higher oil prices and expectations ahead of the Fed decision were also weighing on risk assets, making it difficult to attribute the move solely to CLARITY.
#CryptoRegulation $BTC $ETH $SOL
🏛️ The U.S. Senate failed to reach the 60 votes needed to open debate on H.R. 3633, with the cloture vote ending 49–50. This was a procedural vote on the motion to proceed, not a vote to pass the bill itself.
📑 All 49 votes in favor came from Republicans, while no Democrat or independent voted Yea. Sponsors had previously incorporated 126 changes into the final text, but disagreements over ethics and conflicts of interest remained unresolved.
🔄 Thom Tillis then moved to reconsider, preserving a procedural path for another vote. However, this does not change the requirement to secure 60 votes.
📉 BTC fell around 3–4% after the result, while COIN and CRCL dropped close to 9%. Treasury yields, higher oil prices and expectations ahead of the Fed decision were also weighing on risk assets, making it difficult to attribute the move solely to CLARITY.
#CryptoRegulation $BTC $ETH $SOL
