The US Senate voted 49-50 on September 15 to block the Clarity Act, falling short of the 60-vote threshold needed to advance the bill, leaving a $2.3 trillion industry without the federal regulatory framework it has been lobbying for since the last bull cycle. Bitcoin slipped roughly 1.3% following the vote, dipping below $76,000. Every Democrat and independent in the chamber voted against the motion, joined by four Republican senators, citing what they viewed as insufficient ethics provisions governing elected officials’ financial exposure to crypto. Without the Clarity Act, crypto regulation reverts to enforcement actions, court precedents, and agency rulemaking without clear statutory mandate.
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