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● LIVE Updated 2h ago · 12 sources tracked

Bitcoin drops after US Senate blocks landmark crypto bill

Bitcoin and Ethereum prices declined after the US Senate failed a cloture vote on the Clarity Act, a landmark crypto regulatory bill. The defeat represents a significant regulatory setback for the industry, coinciding with a rate hike that further pressured Bitcoin. While Senator Lummis describes the bill as dead, some Democrats disagree. Coinbase CEO Brian Armstrong stated there is another path forward, and a crypto billionaire described the government as feeling broken following the failure.

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⚡ Key Developments & Real-Time Context
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  • ✓ The US Senate failed a cloture vote on the Clarity Act.
  • ✓ Bitcoin and Ethereum prices dropped following the bill's failure.
  • ✓ The defeat of the bill is described as a blow to the cryptocurrency industry.
🛡️ Source Corroboration: 12 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

The US Senate blocked the Clarity Act via a failed cloture vote, triggering a price drop for major cryptocurrencies.

Live updates

  1. Bitcoin and Ethereum fall after US Senate blocks Clarity Act

    Bitcoin and Ethereum prices declined after the US Senate failed a cloture vote on the Clarity Act, a landmark crypto regulatory bill. The defeat represents a significant regulatory setback for the industry, coinciding with a rate hike that further pressured Bitcoin. While Senator Lummis describes the bill as dead, some Democrats disagree. Coinbase CEO Brian Armstrong stated there is another path forward, and a crypto billionaire described the government as feeling broken following the failure.

    Why it matters

    The Clarity Act aimed to establish a formal regulatory framework for the cryptocurrency industry. Its failure highlights the limits of the industry's political influence in Congress. The bill's collapse is linked by some critics to Donald Trump's own cryptocurrency business interests.

    What is confirmed

    • The US Senate failed a cloture vote on the Clarity Act.
    • Bitcoin and Ethereum prices dropped following the bill's failure.
    • The defeat of the bill is described as a blow to the cryptocurrency industry.

    Still unconfirmed

    • Senator McCormick favored the Clarity Act while Senator Fetterman opposed it.

    What to watch next

    • Statements from Democrats regarding the actual status of the Clarity Act
    • Further regulatory actions or alternative paths proposed by Coinbase CEO Brian Armstrong
    Sources used for this update (14)
    1. CNBC — Senate cloture vote on Clarity Act fails, dealing regulatory blow to crypto industry
    2. The New York Times — Senate Votes to Block Crypto Bill in Major Blow to the Industry
    3. CNN — The crypto industry saw Trump as its savior. His crypto business just snagged a key bill
    4. Euronews.com — Bitcoin drops after US Senate blocks landmark crypto bill
    5. Reuters — Crypto bill's defeat shows limits of industry's political machine
    6. Yahoo Finance — Crypto billionaire on Clarity Act dying: The government 'feels broken'
    7. Politico — Crypto tried to buy Congress. It failed.
    8. Bloomberg.com — Bitcoin Faces ‘Double Whammy’ After Bill Rejection, Rate Hike
    9. Yahoo — McCormick favors, Fetterman opposes CLARITY Act
    10. Yahoo — Lummis Says CLARITY Act Is Dead. The Democrats Who Killed It Say Otherwise
    11. Yahoo Finance — Coinbase CEO Brian Armstrong is moving past the Clarity Act's failure: 'There's another path'
    12. Nevada Current — NV senators voted against it, but Trump’s flagrant self-enrichment is what killed the crypto bill
    confidence 90%
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