GoKawiil
Tech News
A major legislative priority backed by the cryptocurrency industry failed to secure the 60 votes needed to advance to a full Senate floor debate. The setback comes despite heavy lobbying and campaign spending by crypto interests aimed at shaping favorable regulation in Congress.
The US Senate failed to muster the 60 votes needed to advance the Digital Asset Market Clarity Act, a bill meant to divide crypto oversight between the SEC and CFTC. Democrats blocked the measure over inadequate ethics provisions limiting officials, including President Trump, from profiting off crypto ventures while in office. Bitcoin, Ether, XRP, and Solana all dropped following the vote.