Senate Rejects CLARITY Act Amid Ethics Concerns Over Trump's Crypto Ties

The U.S. Senate failed to advance the Digital Asset Market Clarity Act after the cloture motion fell short of the required 60 votes. Democrats blocked the bill, citing insufficient ethics provisions regarding President Trump's involvement in crypto ventures like World Liberty Financial and the TRUMP memecoin. Disagreements over state enforcement powers and stablecoin yield payments also contributed to the failure. Bitcoin prices fell to approximately $76,000 following the vote.