A key US bill to establish a comprehensive regulatory framework for virtual assets failed a procedural vote Tuesday (local time), blocking the CLARITY Act from advancing to a full Senate floor vote. The defeat of the legislation, which had been pushed as the cornerstone of US crypto regulation, sent leading virtual assets tumbling — bitcoin and ether prices both fell sharply on the news. Bitcoin market prices were visible on the electronic board at the Bithumb Lounge Gangnam branch in Seocho-gu, Seoul, on Wednesday morning.


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