The U.S. Senate failed to advance the CLARITY Act, a bill intended to establish a comprehensive regulatory framework for digital assets. The legislation did not secure the necessary 60 votes to overcome a filibuster, leaving it stalled in the legislative process. This outcome maintains the regulatory status quo in the United States, with no federal market-structure framework in place for cryptocurrencies. Bitcoin price expectations have been revised downward, with markets now pricing a reduced likelihood of Bitcoin reaching $200,000 by the end of 2026. The SEC and CFTC remain key actors to watch for any future regulatory developments.
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