The US Senate shot down a procedural vote to move forward with the CLARITY Act (H.R. 3633), a bill aimed at setting up a regulatory framework for crypto markets. Official records show 49 senators voted to end debate and advance the bill, while 50 voted against it, with one senator absent. The motion needed 60 votes to pass, so the initiative stalled out at this stage.

What Happened

The final tally on the motion to end debate fell short of the 60-vote threshold needed to bring H.R. 3633 up for actual consideration. Without enough support, the bill hit a procedural wall and can’t move forward for now.

Market Reaction

After the vote results came out, Bitcoin slipped below $75,000. The article doesn’t provide further details on market moves.

Status of the Bill

With the failed vote to end debate, H.R. 3633 never made it to the floor for discussion. No new dates or alternative procedures have been announced at this time.