Bitcoin, Crypto Stocks Fall as Clarity Act Fails to Advance Past Procedural Vote — WSJ
By Shradha DineshThe Clarity Act, a bill which would have established a regulatory framework for cryptocurrencies and other digital assets, has failed to pass a procedural Senate vote. The votes fell short of the 60 needed to invoke cloture, or to progress the bill to the next stage, coming in at 49 votes in favor.The bill could be reintroduced in the next legislative session, but the path forward remains uncertain ahead of November's midterm elections.Shares of crypto-related companies remained lower on the day after the legislative setback. After the vote failed, crypto stocks initially fell further, adding to morning losses. The have recovered a bit since then, but remain lower. In recent trading:Coinbase Global (COIN) fell 9%Robinhood Markets (HOOD) dropped 3%Strategy (MSTR) slipped 4%Circle Internet Group (CRCL) fell 9%Bitcoin itself recently traded below $76,000, down 3.9% from its 4 p.m. ET price MondayThis item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).