US Senate blocks crypto bill, triggering sharp market pullback

The CLARITY Act failed in the US Senate by a 49-50 vote. Democrats rejected the measure over concerns tied to crypto holdings and President Trump’s reported income.

Bitcoin fell to $75 038 before trading near $75 825, down 1.9 % on the day. Ethereum dropped 3.4 %, Solana 4.1 %, XRP 8.3 %, and the GMCI 30 index slid 4.16 %. Shares of Coinbase and Circle each lost more than 10 %.

Bitcoin spot ETFs saw their largest outflow since late June on 15 September, with $450.33 million leaving the funds. Fidelity’s FBTC lost $214.75 million, BlackRock’s IBIT $161.69 million, and Grayscale’s GBTC $44.14 million.

Industry voices called the result painful and now look to the SEC and CFTC for clearer rules, though many fear agency guidance alone will not give investors the certainty a full statute would provide.

Based on information from https://cryptonews.net