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Peter Schiff (@PeterSchiff) posted that Bitcoin rallied significantly yesterday, driven by Strategy's latest round of Bitcoin purchases and subsequent bullish remarks from Michael Saylor, who claimed that the Clarity Act's failure to pass into law is actually a net positive for Bitcoin. In response, Schiff sarcastically noted that Saylor would offer a similarly bullish interpretation regardless of whether the bill succeeded, questioning the obvious "self-serving" motives behind his comments.
the U.S. Senate has not advanced the Clarity Act, and U.S. crypto policy remains primarily led by the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). After the bill's advancement stalled, whether stablecoin platforms can offer rewards that may compete with bank deposits still lacks a clear legislative arrangement.Banks have made progress in the dispute over whether stablecoin platform rewards will compete with deposit business. Regulated crypto hubs such as the UAE are using clearer rules to attract businesses, talent, and capital, and may benefit from the U.S. legislative deadlock. (CoinDesk)
Bitcoin stabilized at the $75,000 level following the Federal Reserve's interest rate hike and the Senate's rejection of the Clarity Act, as the market had already priced in the negative developments and displayed strong resilience. Analysts expect prices to remain range-bound in the near term.
The US Digital Asset Market Clarity Act has been effectively shelved, having aimed to clarify crypto regulatory jurisdiction and expand the CFTC's authority. Subsequently, SEC Chair Paul Atkins and CFTC Chair Mike Selig have each accelerated efforts to advance alternative crypto regulatory frameworks.
According to The Block, Kevin O'Leary, chairman of O'Leary Ventures, stated at the New York Avalanche Summit that he has resumed buying cryptocurrency to position for the next cycle. He noted that the core issue in current crypto investment lies in determining which blockchain will achieve widespread adoption in which industry. He emphasized that the first major stock exchange to adopt blockchain would mark a "watershed moment" for the industry, as the entire financial ecosystem would then be forced to align with that chain's compliance requirements. O'Leary also mentioned that Bitcoin is expected to account for 1%~3% of alternative asset allocations, comparable to institutional gold holdings. On the regulatory front, he anticipates the Clarity Act will face difficulty passing before the midterm elections, but progress on digital asset tax policies will drive further regulatory implementation.
Kevin O'Leary stated that although the Clarity Act faced setbacks in the Senate, given the progress of the House digital asset tax bill, he expects Congress to resume related legislative proceedings in the first or second quarter of next year.
Odaily reports: The U.S. Senate failed to advance the Clarity Act, leaving the crypto industry still lacking a comprehensive federal regulatory framework and with the division of responsibilities among major financial regulators yet to be clarified.Some industry participants said the vote outcome could push capital, talent, and innovation toward overseas markets with clearer regulatory rules. Rulemaking by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) may provide guidance in the short term, but legislation is still considered important for consumer protection and maintaining U.S. competitiveness. (CoinDesk)
According to The Block, Bitwise Chief Investment Officer Matt Hougan has revised his previous assessment regarding the impact of the Clarity Act's failure. The bill secured only 49 votes in a procedural Senate vote, falling short of the 60-vote threshold needed to advance. While Hougan had previously forecasted that a failed bill would trigger several weeks of crypto market weakness, he noted in his latest client report that Bitcoin has continued to rise after bottoming out around $57,950 on July 1, surpassing $80,000 on September 4. In the same period, Polymarket’s implied probability for the bill’s passage within the year dropped from 39% to 14%. Price action moving contrary to these expectations suggests that the bull market does not rely on legislative passage. Hougan also pointed out that initiatives such as Robinhood launching its own blockchain, Morgan Stanley listing a Solana ETF, and DTCC completing the settlement of the first batch of tokenized stocks demonstrate that Wall Street institutions are already positioning themselves ahead of regulatory clarity. He noted that proactive rulemaking by the SEC and CFTC can partially fill legislative gaps, but acknowledged that executive regulations carry the risk of being overturned by future administrations. Consequently, congressional legislation remains the sole path to providing lasting regulatory certainty.
Crypto journalist Eleanor Terrett reported that seven US Democratic senators, including Kirsten Gillibrand, Mark Warner, Ruben Gallego, and Angela Alsobrooks, have pledged to advance the Clarity Act through bipartisan efforts. According to informed sources, relevant parties are attempting to restart bipartisan negotiations and are assessing both sides' willingness to pass the bill by year-end.
Odaily reports: A Fox Business crypto reporter posted on X that 7 U.S. Senate Democrats, including Gillibrand, Mark Warner, Ruben Gallego, and Angela Alsobrooks, said they are committed to advancing the Clarity Act through bipartisan efforts. According to 3 people familiar with the matter, initial attempts are underway to restart bipartisan negotiations and assess both sides' willingness to return to the negotiating table before the end of the year to push for the bill's passage.
According to Cointelegraph, the U.S. cryptocurrency market structure bill, the Clarity Act, failed to advance after falling short of the Senate's sixty-vote threshold. Policy advocate Adrian Wall stated that bipartisan lawmakers are considering making a final attempt to vote on the legislation during the post-election lame-duck session.
Odaily News: U.S. SEC Chairman Paul Atkins stated that regardless of whether the relevant legislation advances, the SEC will take decisive action to provide a clear regulatory framework for American investors and entrepreneurs, adding, "Stay tuned."The CLARITY Act previously stalled in the U.S. Senate, and CFTC Chairman Michael S. Selig also stated that he will use existing statutory authority to continue advancing crypto asset regulatory rulemaking.
According to Cointelegraph, the U.S. Senate failed to advance a procedural vote on the Digital Asset Market Clarity Act (CLARITY Act) on Tuesday. Bernstein analysts anticipate that the SEC and CFTC will subsequently embark on "proactive and swift" rulemaking to compensate for the time lost during prior negotiations. The forthcoming regulations are expected to cover: classification criteria for token offerings, developer protections for DeFi and self-custody protocols, innovation exemptions for equity tokenization, an expedited approval pathway for physical asset perpetual futures, and swap designation rules for federal sports event contracts. Bernstein pointed out that the CLARITY Act was originally intended to provide the industry with institutional safeguards against "shifts in political winds," and its defeat has once again cast doubt on regulatory certainty. Analysts also noted that the likelihood of a reconsidered vote on the bill remains low.
Bernstein analysts said that after the U.S. Senate failed to pass the procedural vote on the Digital Asset Market Clarity Act, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are expected to accelerate the development of digital asset regulatory rules.The analysts expect the new rules to cover the classification of fundraising tokens, protections for DeFi and self-custody protocol developers, innovation exemptions for equity tokenization, approval of real-world asset perpetual futures, and adjustments to swap classification rules for federal sports event contracts. (Cointelegraph)
According to official social media announcements, HTX will host a live stream at 8 PM today titled “The Clarity Act Stalls, Fed Rate Hikes Weigh Heavily: Is the $75K $BTC Defense Line a Bear Factor Clearance or the Eve of a Breakdown?” Crypto KOLs including Chan Ge, Damo Ge, 0x31ad, FoodieNotAfraidOfFat, and Zizi will join the broadcast to discuss developments surrounding the Clarity Act, expected Federal Reserve monetary policy shifts, and their impact on cryptocurrency market liquidity. Building on BTC’s recent price action, the session will closely examine the long-versus-short dynamics around the critical $75,000 support level and outline the key variables that could shape market conditions going forward.
Odaily News: U.S. Democratic Senator Elizabeth Warren stated that she still hopes to push a crypto regulatory bill into law, but does not support the current version of the Clarity Act.Warren said the Clarity Act is Washington's first opportunity to achieve "meaningful crypto regulation," but any bill must include several core elements: regulating public officials' crypto investments, protecting national security and consumers, and strengthening the fight against illicit finance and terrorist financing.Her stance could become more critical next year. If Democrats regain control of the Senate after the November election, Warren could become chair of the Senate Banking Committee, one of the key bodies for digital asset regulatory legislation. The article notes that Kalshi prediction markets currently show a 52% probability of Democrats retaking the Senate.When asked whether she would lead crypto legislation if she headed the Banking Committee, Warren said she would be willing. She said she is willing to sit down with Democrats, Republicans, and the industry to craft a crypto bill that protects national security, protects the economy, and reduces corruption.
The U.S. Senate failed to pass the Digital Asset Market Clarity Act, receiving only 49 votes in support. The bill was primarily stalled due to disagreements between the two parties over ethical restrictions on President Trump's crypto holdings. Republicans accused Democrats of refusing to compromise, and negotiations ultimately broke down.
The U.S. Senate failed to advance the Clarity Act due to insufficient votes, triggering a broad decline in crypto-linked stocks, with Coinbase and Circle each dropping over 10% intraday.
The U.S. Senate failed to advance the Digital Asset Market Clarity Act on a 49-50 vote, causing crypto stocks such as Coinbase and Circle to collectively fall more than 8% that day. The legislative setback has temporarily stalled the industry's long-awaited federal market structure framework.
Odaily News: A Fox Business crypto reporter posted on X that U.S. Senator John Kennedy said he was "not surprised" by the failure of the Clarity Act vote, but does not believe the bill is dead. John Kennedy stated that Democratic colleagues understand the need to establish a crypto market structure that appears to have been intentionally designed, but the related work will have to wait until the lame-duck session.U.S. Senator Ted Cruz, citing the film The Princess Bride, said there is a big difference between the bill being "dead" and "mostly dead," and expressed hope that it can be brought back to life. Ted Cruz blamed Democrats for the failed vote, saying they are "playing politics" and driving crypto industry activity and jobs overseas.