BREAKING: 🇺🇸 US Senate failed to advance the Crypto Clarity Act Act does not get required 60 votes to advance to the next stage This is not good for markets...

we are so cooked

Yes it is not good for a week then everybody will forget

Here are the main reasons why a certain part of the crypto community considers the "failure" or postponement of this law to be a positive outcome: 1. Preserving DeFi and DecentralizationThe updated version of the bill contained very strict frameworks for Decentralized Finance (DeFi). Had the law been passed, developers of smart contracts and DeFi protocols would have been forced to implement rigid User Verification (KYC). Since DeFi lacks a single CEO or headquarters, this could have effectively destroyed or outlawed most decentralized platforms in the US. 2. Protecting Stablecoins from the Banking LobbyTraditional banks actively lobbied the Senate, demanding a ban or severe restrictions on paying interest, bonuses, or any yields to stablecoin holders. They feared that people would withdraw money from bank deposits and move them into digital dollars. The crypto community is glad these restrictions did not take effect, as stablecoins (such as USDT or USDC) remain a convenient and profitable tool for earning returns. 3. Avoiding Excessive Bureaucracy for StartupsThe document swelled to over 600 pages of complex legal compromises. Launching a new crypto project would have required massive expenditures on lawyers, audits, and licensing, much like in the traditional financial sector. The absence of the law gives young startups more time and freedom to develop without the risk of violating hundreds of new regulations. 4. Maintaining States' Rights to Protect UsersThe latest versions of the bill attempted to limit the powers of state attorneys general to independently prosecute crypto fraudsters. A coalition of 17 state attorneys general (including New York) opposed the bill, arguing that the federal law would weaken the protection of everyday investors at the local level. 5. The Market Has Already Adapted to Current RulesAs Coinbase CEO Brian Armstrong noted, if the law is not passed, it is still a good outcome. Crypto companies have already learned to operate in courtrooms, defend against regulatory attacks (SEC), and establish their own safety frameworks. Instead of a raw law rushed under political pressure before elections, the industry prefers the evolutionary development of rules.

Ya gotta break shit to get shit changed. When has things ever been different ?

60 votes needed, got 59 vibes and a prayer

fr clarity act getting blocked is bearish as hell for these stocks. no 60 votes means no massive liquidity injection. brutal. great coverage by you. you and @TylerWoolsey23 are my fav follows for tracking these equities ngl. both always cook.

Crypto needs clarity, not more uncertainty.

Oh well never had clarity to begin with🤷‍♂️😂 lets fly😎🚀🚀🚀🚀

smh

That’s a good thing. There will always be NFTs/memes that nobody controls, and you can make some serious money from them. 😌

Idiot

Cryptocurrency commentators always panic over failed Senate legislative votes and blocked regulatory bills while ignoring the fundamental lack of intrinsic value in digital tokens. I have watched speculative manias fail for decades. @SophiaBlackkod broke down actual valuation metrics on his page.

Thanks for keeping us updated on this crucial development—really hoping the afternoon vote turns things around for the market.

The CLARITY Act outcome was already priced in. The real threat nobody is looking at is tomorrow’s rate hike risk. Sentiment surveys are leaning hawkish, and that’s where the real liquidity shock will come from. Eyes on macro, not the Senate theater.

Not one democrat voted yes.. they killed this

Perfect ! What happens is meant to occur. LFG

BTC was going to sell off from here whether cloture passed or not. The vote just gave people something to blame.

clarity failing again is a nasty hit for crypto. the market wanted a path to clearer rules, and congress just added more uncertainty. this wave could get choppy until there’s another vote.

Yep, we Republicans can’t get anything pushed through all these idiots. Keep voting these fucking Democrats in. We’re fucked.

"This is not good for markets" is a pretty blunt way to sum up today's failed vote. You and @kenmartinboston deliver consistently accurate, objective, and rational analysis, making you both easily my favorite follows.

LOVE IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

how long we should wait for the next attempt...