Bitcoin (BTC) dipped by 3.2% yesterday, following news that a procedural vote on the Clarity Act in the U.S. Senate failed to meet the required threshold.
With 49 votes in favor, 11 less than the minimum established to move the bill to the main floor, the Clarity Act has now been shelved for what remains of the year.
Republicans made a few amendments to the bill in the past few days to entice Democrats, but apparently failed to ease their concerns regarding the ethical provisions they were demanding.
Most other cryptocurrencies experienced strong declines following the news, but seem to be starting to recover this morning.
Truth be told, the market had already priced in that the Clarity Act would not be passed this year. Odds in Polymarket have been collapsing for months, although they recovered to 30% last week ahead of this key vote.
#clarity #following #bill
With 49 votes in favor, 11 less than the minimum established to move the bill to the main floor, the Clarity Act has now been shelved for what remains of the year.
Republicans made a few amendments to the bill in the past few days to entice Democrats, but apparently failed to ease their concerns regarding the ethical provisions they were demanding.
Most other cryptocurrencies experienced strong declines following the news, but seem to be starting to recover this morning.
Truth be told, the market had already priced in that the Clarity Act would not be passed this year. Odds in Polymarket have been collapsing for months, although they recovered to 30% last week ahead of this key vote.
#clarity #following #bill
2 months ago
