Senate Rejects Crypto Bill 50-49
The CLARITY Act failed in the US Senate 50-49 as Democrats blocked the measure to demand stricter divestment rules and expanded ethical coverage for the president's family. Following the rejection, Bitcoin has fallen more than 5%, signaling market anxiety over the stalled regulatory framework.
GN markets/crypto (en-US) reports that the core obstruction for Democrats was the demand to force officials with significant crypto holdings to fully divest rather than use blind trusts, alongside efforts to extend ethics rules to the president's children. The outlet notes that Bitcoin has already dropped over 5% during the sell-off, with significant pressure on exchanges like Coinbase and Circle.
Source: Yahoo FinanceThe CLARITY Act failed in the US Senate by a single vote. Democrats blocked the measure to demand stronger ethical safeguards.
Source: New York Public Media
