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BTC US demand is described as under pressure after the CLARITY Act failed to advance in the Senate; Coinbase’s selling is noted as diverging from Binance. Senators did not reach the 60-vote threshold, leaving only a handful supporting votes.
The US Senate failed to advance the proposed CLARITY Act after it did not secure 60 votes required to clear a procedural hurdle; the vote was 50-49.
The U.S. Senate did not advance the comprehensive cryptocurrency bill, the Clarity Act, which was backed by President Donald Trump.
Circle and Coinbase shares fell about 10% after the US Senate failed to advance the CLARITY Act. American Bitcoin slid about 8%, while Strategy and Strive declined about 5%.
The US Senate failed to pass a cloture motion on the Digital Asset Market Clarity (CLARITY) Act, which would have created the country’s first regulatory framework for digital assets.