Crypto · updated 1h ago · 2 min read
U.S. Senate Fails Cloture Vote on H.R. 3633, Sending Crypto Stocks Lower
Senate failed to invoke cloture on the Clarity Act, 50-49. Crypto stocks fell after the vote failure, with Coinbase, Circle, and Galaxy down.
15 outlets, one story, no spin found.
9 of 11 outlets skipped it: markets priced the defeat as the vote became certain.
15outlets compared
Clarity Act Stalls in Senate
The U.S. Senate failed to advance the Digital Asset Market Clarity Act after a procedural cloture motion fell short, with the vote described as 50-49 against the motion to proceed and short of the 60 votes required.
“The Senate voted 49-50 on a procedural motion to advance the Digital Asset Market Clarity Act, well short of the 60 votes required.”
Cryptonews.net reported that crypto stocks sank after the Senate failed to advance the Clarity Act, citing Coinbase down nearly 9% to $174.42 and Circle down 9.4% to $88.26.
The bill’s failure left the industry waiting longer for a comprehensive U.S. regulatory framework, with the Reuters account noting the procedural vote was “well short of the 60 votes required.”
Decrypt said the Senate vote was a cloture motion on H.R. 3633 rather than a final vote on the bill itself, and it described the outcome as dooming the bill that needed “at least seven Democrats to cross over.”
Ethics Fight Drives Split
The vote split along party lines on the ethics provisions, with CNBC quoting Sen. Ruben Gallego saying the compromise would have “bought a lot of Dem votes” before the procedural vote.
In the same debate, Fox Business quoted Sen. Tim Scott warning that “If you want everyday, hardworking Americans to have more access to their resources,” you vote yes, while he argued “Rules of the road matter.”
Crypto News said Democratic Senators Angela Alsobrooks, Ruben Gallego, and Kirsten Gillibrand voted no, while Republican Senators Susan Collins, Josh Hawley, Jerry Moran, and Thom Tillis also withheld support.
Decrypt added that Sen. Cynthia Lummis wrote ahead of the vote that a failure would possibly be final, saying, “It's now or never for the Clarity Act.”
What Happens Next for Crypto
The procedural defeat leaves the Clarity Act stalled on Capitol Hill after months of negotiations, and CNBC said the vote “leaves the bill stalled on Capitol Hill after months of negotiations aimed at building bipartisan support.”
“The procedural vote leaves the bill stalled on Capitol Hill after months of negotiations aimed at building bipartisan support.”
CoinDesk reported that the vote was a “major setback” for the crypto industry’s push to lock market structure rules into law, while also saying it did not unwind regulatory progress already underway at the SEC and CFTC.
Cryptonews.net tied the market reaction to broader timing, noting Tuesday’s trading was shaped by investors cutting risk ahead of Wednesday’s Federal Reserve decision that would likely end with a rate hike.
Business Insider España said Bitcoin dropped as much as 5.3% to $74,910 after the bill failed to reach the 60 votes needed for passage, and it described the setback as depriving the sector of “one of its few potential catalysts amid growing market anxiety over rising interest rates.”