Trump-backed crypto bill Clarity Act blocked by US Senate: What it means for Bitcoin, investors
The US Senate blocked the Trump-backed Clarity Act, leaving several questions on crypto regulation unresolved. Experts have said the near-term impact will be limited, but prolonged uncertainty could affect institutions.
The US Senate failed to pass the Clarity Act, a comprehensive cryptocurrency bill backed by President Donald Trump, on Tuesday. The procedural vote fell short of the 60 votes required, ending the bill's progress as Congress prepares to adjourn this month ahead of the November midterm elections. The Clarity Act aimed to establish a federal regulatory framework for digital assets, providing legal certainty for crypto companies and fostering institutional participation.
Its failure leaves the cryptocurrency market with increased uncertainty and volatility, as investors await regulatory clarity from the SEC and CFTC.
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Also reported by 6 other outlets
- Senate blocks crypto market bill in procedural vote thearabianpost.com
- US Senate fails to advance sweeping crypto bill freemalaysiatoday.com
- The Democrats Are Likely to Win Back the House and Senate in November. Here's 1 Crypto to Buy and 1 Crypto to Sell. nasdaq.com
- The Democrats Are Likely to Win Back the House and Senate in November. Here's 1 Crypto to Buy and 1 Crypto to Sell. fool.com
- US Senate rejects motion to advance crypto market bill techinasia.com
- Needham says buy crypto stocks after selloff amid Senate block of digital asset bill investing.com
