The U.S. Senate voted 49-50 on Tuesday to block the Digital Asset Market Clarity Act, falling short of the 60 votes needed under a unanimous consent agreement to advance the crypto market structure bill. No Democrats or independents voted to proceed, and four Republicans also voted no: Susan Collins, Josh Hawley, Jerry Moran and Thom Tillis. Tillis voted against to preserve a motion to reconsider, which allows a second cloture vote on the same motion without a new filing. Seven Senate Democrats who had negotiated the bill for a year maintained that the Republican text fell short, particularly on ethics provisions for elected officials. Bitcoin dropped 4.1% to $75,901 following the vote.
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