Crypto Selloff Deepens as Clarity Act Stalls in Congress
5 Articles
5 Articles
The SEC and the CFTC prepare new rules for the digital asset market using their current powers, after the U.S. Senate failed to advance the Clarity Act in a 49-50 vote. The shift could temporarily shift the center of crypto regulation from Congress to federal agencies. [...] The SEC and CFTC entry accelerate crypto regulation following the failure of the Clarity Act was first published in Cryptoreport.
Clarity Act Failure Leads to Liquidations of Crypto Longs Worth $570 Million
Crypto markets saw about $571 million (roughly Rs. 5,479 crore) in long-position liquidations over 24 hours after the US Senate failed to advance the CLARITY Act. Bitcoin and Ether accounted for roughly $190 million each, while XRP and Solana saw smaller losses. The Senate’s September 15 cloture vote on H.R. 3633 ended 49-50, falling short of the 60 votes required to advance the legislation.
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