Democrats send counteroffer to Republicans over Clarity Act provisions
Democratic Senators were said to be meeting late Monday to discuss the latest proposed draft text.
The Senate scheduled a cloture vote on the Digital Asset Market Clarity Act for September 15, aiming to clarify regulatory authority between the SEC and CFTC. This bill, requiring 60 votes to advance, provided political clarity despite the broader risk-off environment in equities. Crypto markets showed resilience, with Bitcoin climbing 1.58% to $78,119.75, outperforming a stagnant tech sector.
The total crypto market capitalization increased 1.6% to $2.66 trillion, influenced by a 31% chance of passage for the CLARITY Act and a sharp Ethereum short squeeze, wiping out $105 million in shorts. Bitcoin found support at the 50% Fibonacci retracement level, with potential resistance at $79,000 to $80,000. The 30-day SMA of $2.61 trillion serves as a downside level to monitor.
Written by urgent.news from e27's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
