The U.S. Senate blocked the procedural advance of the CLARITY Act, a bill aimed at establishing a federal framework for digital assets, failing to secure the necessary 60 votes with a narrow 50-49 outcome. This decision triggered a more than 5% drop in Bitcoin’s price during the voting period, reflecting market concerns about the unresolved future of U.S. cryptocurrency regulation. Prediction markets have significantly lowered the bill’s odds of becoming law, with the probability plummeting from approximately 18% to just 5.3% within 24 hours. This shift highlights the growing skepticism among market participants regarding the prospects for crypto-related legislation in the United States.
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