The US Senate rejected the CLARITY Act in a cloture vote of 49-50 on September 15, falling short of the 60 votes needed to advance the bill. This legislative defeat triggered a market downturn, with Bitcoin dropping nearly 3% to around $76,000, Ether falling approximately 5%, and XRP plunging 10%. The bill sought to divide oversight of digital assets between the CFTC and SEC, but the lack of any Democratic support and the approaching November elections have effectively closed the legislative window for the remainder of 2026.
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