CLARITY Act stalls in US Senate, triggering crypto stock sell-off

The US Senate failed to advance the CLARITY Act (US digital-asset market-structure bill) after a procedural vote fell short of the 60-vote threshold required to end debate. The legislative setback triggered a market decline, with Coinbase and Circle shares dropping approximately 10%. Mining and holding firms also saw losses, including American Bitcoin, Riot Platforms, and MicroStrategy (MicroStrategy). MicroStrategy co-founder Michael Saylor commented that Bitcoin provides the only necessary clarity.