🇺🇸 The most pro-crypto Congress in history couldn't pass the Clarity Act.
It needed 60 votes to clear its procedural hurdle. Zero Democrats voted to advance it, 4 Republicans crossed over to kill it too, and $300 million of longs vanished in 20 minutes as Bitcoin slid from just under $80,000.
That bill was the one thing institutions were waiting on, splitting oversight of digital assets between the SEC and the CFTC.
Senator Cynthia Lummis says if it dies in this Congress, the next realistic shot isn't until 2030. The November midterms leave almost no room to revive it.
So crypto stays where it's been for years, run by enforcement actions and court rulings instead of a law.
Source: CoinDesk / Writer: Daniyal
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