{
  "id": 7778271,
  "title": "Crypto prices tumble as Senate blocks Clarity Act amid concerns over Trump family's crypto ties",
  "url": "https://urgent.news/2026/09/16/crypto-prices-tumble-as-senate-blocks-clarity-act-amid-concerns-over",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T11:58:00.000Z",
  "source": {
    "name": "TechSpot",
    "slug": "techspot",
    "url": "https://www.techspot.com/news/113866-crypto-prices-tumble-senate-blocks-clarity-act-amid.html"
  },
  "original_language": "en",
  "account": "The cryptocurrency market experienced a significant downturn in the past 24 hours, as the US Senate failed to pass the Digital Asset Market Clarity Act. This setback hit companies seeking clearer regulations for digital assets hard. XRP, Ether, Solana, and Bitcoin all suffered price drops in response. The bill's failure to gain the necessary 60 votes for passage marked a major disappointment after years of efforts and millions spent on its creation. The Clarity Act aimed to establish regulations for various cryptocurrencies and blockchain projects, dividing responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The CFTC would gain new authority over crypto spot markets, where digital assets are directly bought and sold. However, disagreements over ethics provisions limiting senior government officials' crypto business interests thwarted the legislation. Democrats pushed for stronger safeguards for President Donald Trump and his family's crypto activities, while some Democrats still wanted tougher limits on the president's potential profits in office. Trump reported over $1.4 billion in income from his family's crypto ventures and investments in 2025, with companies managing his interests holding substantial amounts of Bitcoin, Ether, and other tokens. Despite revised legislation proposed by Republicans, it failed to gain enough support to overcome the Democrats' and banking industry's objections. With the midterm elections approaching, the bill's chances of being passed this year are diminishing. As trading began in Asia on Wednesday, XRP fell nearly 10% to $1.30, Ether dropped almost 5% to around $2,410, Solana declined 5% to just above $97, Dogecoin lost nearly 5%, and Bitcoin slipped almost 3% to below $76,000. The SEC and CFTC will now focus on developing regulations using their existing powers, but these rules remain susceptible to legal challenges and shifts in political leadership.",
  "summary": "The legislation failed to secure the 60 votes needed to clear a procedural hurdle. As CoinDesk reports, the result follows years of campaigning and hundreds of millions of dollars spent trying to get a regulatory framework through Congress. Read Entire Article",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 9,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Bitcoin adds to losses, falls nearly 4% after Clarity Act fails Senate vote",
        "url": "https://urgent.news/2026/09/15/bitcoin-adds-to-losses-falls-nearly-4-after-clarity-act-fails-senate",
        "published": "2026-09-15T21:49:19.000Z"
      },
      {
        "outlet": "Tech in Asia",
        "title": "Bitcoin falls after US Senate blocks Clarity Act",
        "url": "https://urgent.news/2026/09/16/bitcoin-falls-after-us-senate-blocks-clarity-act",
        "published": "2026-09-16T03:41:12.000Z"
      },
      {
        "outlet": "Euronews",
        "title": "Bitcoin drops after US Senate blocks landmark crypto bill",
        "url": "https://urgent.news/2026/09/16/bitcoin-drops-after-us-senate-blocks-landmark-crypto-bill",
        "published": "2026-09-16T09:03:39.000Z"
      },
      {
        "outlet": "Expansion ES",
        "title": "Bitcoin, altcoins y valores cripto pinchan con el rechazo a la Clarity Act",
        "url": "https://urgent.news/2026/09/16/bitcoin-altcoins-y-valores-cripto-pinchan-con-el-rechazo-a-la-clarity",
        "published": "2026-09-16T09:14:38.000Z"
      },
      {
        "outlet": "Cointelegraph",
        "title": "Bitcoin Coinbase Premium hits monthly low as CLARITY Act vote squeezes US demand",
        "url": "https://urgent.news/2026/09/16/bitcoin-coinbase-premium-hits-monthly-low-as-clarity-act-vote",
        "published": "2026-09-16T09:55:16.000Z"
      },
      {
        "outlet": "CoinDesk",
        "title": "Bitcoin ETFs shed $450 million as Clarity Act fails",
        "url": "https://urgent.news/2026/09/16/bitcoin-etfs-shed-450-million-as-clarity-act-fails",
        "published": "2026-09-16T10:48:44.000Z"
      },
      {
        "outlet": "Quartz",
        "title": "Senate sank the Clarity Act, dashing the crypto industry's hopes for new rules",
        "url": "https://urgent.news/2026/09/16/senate-sank-the-clarity-act-dashing-the-crypto-industrys-hopes-for",
        "published": "2026-09-16T11:30:43.000Z"
      },
      {
        "outlet": "CNBC Technology",
        "title": "The Fed decision, Clarity Act fails in Senate, Ford's truck prices and more in Morning Squawk",
        "url": "https://urgent.news/2026/09/16/the-fed-decision-clarity-act-fails-in-senate-fords-truck-prices-and",
        "published": "2026-09-16T12:42:32.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}