Bitcoin News
By Jean-Luc Maracon
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Warren, Local Banks, and Trump's Interests. The Democrats did not vote against the Clarity Act on principle.
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Cynthia Lummis and the Closing Calendar. Wyoming Senator Cynthia Lummis championed this project with determination.
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Bitcoin took a hit on Tuesday. The Clarity Act, a bill intended to finally establish clear regulations for cryptocurrencies in the United States, failed to pass the Senate — and…
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The bill did not gather the 60 votes needed to open debates. Not 58, not 59. Just not enough.
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Bitcoin plunged by 5.5%, dropping to $75,556.
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The Democrats did not vote against the Clarity Act on principle. Their central argument was that the bill did not sufficiently protect against direct conflicts of interest…
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Senator Elizabeth Warren was the most direct. For her, the bill posed real risks — national security, economic stability. Strong words. Words that clearly influenced several votes.
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But the opposition did not only come from Democrats. Some Republican senators also expressed reservations.
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So even within the camp expected to push the bill, there were deep fissures.
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Wyoming Senator Cynthia Lummis championed this project with determination. She emphasized that the final version of the Clarity Act incorporated more than 120 amendments proposed…
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Also read: Bitcoin Drops 4% in Senate as Clarity Act Falls to 49 Votes
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Related: Bitcoin Plummets After Senate Blocks Clarity Act in Narrow Vote
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And now the calendar is closing quickly. The midterm elections are approaching. Legislative time is compressing.
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Congress struggles to keep up with technological advances. This is not new. The debate over artificial intelligence shows exactly the same symptoms — legislators racing to catch…
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What makes the failure of the Clarity Act particularly burdensome is that the bill did not emerge out of nowhere.
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