Bitcoin Drops Below $80K as Senate Prepares Clarity Act Vote
A failed procedural vote would leave U.S. firms operating under the current SEC and CFTC framework, potentially deferring product launches and tokenization into 2027 and 2028.
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A failed procedural vote would leave U.S. firms operating under the current SEC and CFTC framework, potentially deferring product launches and tokenization into 2027 and 2028.
The dispute puts federal preemption and state investor-protection authority at the center of the Senate’s crypto debate.
Banks, Senate Democrats, 18 state attorneys general, Coin Center and tribal gaming groups all rejected the final text, leaving Tuesday's 60-vote threshold in serious doubt.
The 80% ethics concession unlocks Tuesday's cloture math: state AGs gain enforcement teeth, federal officials must divest or blind-trust crypto stakes.
Tuesday's vote is the next test for US crypto policy, while the released text gives markets a concrete legislative signal before any law takes effect.
Two Democrats joined every Republican to advance the market-structure bill, putting a floor vote within reach — though ethics provisions, Senate Ag merging, and a 60-vote threshold still loom.