US Senate Rejects CLARITY Act as Bitcoin Slides Below $76,000

The US Senate failed to advance the Digital Asset Market Clarity Act on Sept. 15, falling short of the 60-vote threshold required to move the bill to floor debate. The procedural motion to proceed was defeated in a 49-50 vote, stalling efforts to establish a uniform federal framework for the issuance, trading, and sale of digital assets.

The failure of the bill leaves the current fragmented regulatory environment for crypto markets unresolved. The vote, which took place at approximately 2:15 p.m. ET, was viewed as a significant policy test for the industry.

Bitcoin was already trending lower prior to the vote, hitting an intraday low of $74,967.97. The broader altcoin market cap also saw a 3.6% decline during the same period, though it remained above $1.15 trillion.

Market participants were also navigating pressure from monetary policy expectations, with traders preparing for a Federal Reserve decision. Data from CoinGlass showed that leverage was being unwound even before the Senate vote, with over $300 million in liquidations recorded 20 minutes after the result. The 24-hour liquidation total surpassed $665 million at that time.

While the legislative setback adds to market uncertainty, the decline in crypto prices began before the vote tally was finalized. Traders are now looking for signs of stabilization as the market absorbs both the policy outcome and ongoing macroeconomic risks.