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Senate stalls Clarity Act on crypto rules, citing Trump family conflicts

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.

Crypto Markets Slip as Senate Weighs Clarity Act Vote

Bitcoin, XRP and crypto-linked stocks including Coinbase traded lower in premarket sessions as investors awaited a Senate vote on the Clarity Act, legislation that would establish regulatory rules for digital assets. Market sentiment across the sector has turned cautious ahead of the outcome.