Bitcoin slips to $77,800 as Senate Clarity Act vote nears and oil prices climb
Bitcoin pulls back from $79,000 as the Senate prepares to vote on the Clarity Act and oil prices rise.
President Donald Trump has been aware for weeks of the sweeping cryptocurrency bill being drafted in the Senate. To pass this bill, he would need to agree to ethics provisions that apply to him as well. Trump initially agreed to a measure that would prohibit him and his wife from issuing meme coins after launching a series of them while preparing for his second term.
Late Sunday, Republicans revealed Trump had consented to a tougher ethics proposal demanded by several key senators. The Senate vote on the cryptocurrency bill on Tuesday could be a watershed moment for the industry worth $2.3 trillion, but it depends on the extent of Trump's compliance with the ethics measures. The fate of the bill hangs on the Trump-focused ethics fight.
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