The vote in the U.S. Senate to regulate the crypto market failed, leading to declines in Bitcoin and other cryptocurrencies. The uncertainty also affects stocks linked to the digital sector.
The U.S. Senate's vote to approve the Clarity Act, designed to regulate the cryptocurrency market, did not achieve the necessary 60 votes and fell ten short of the target. This rejection, reported by expansion.com, has led to widespread declines among cryptocurrencies and stocks related to the digital sector.
Bitcoin started the day with a drop of nearly 2%, hovering around $75,000, after reaching $80,000 last week. As for ether, the second-largest cryptocurrency, its declines exceeded 4%, which has cooled expectations in the decentralized finance (DeFi) space.
Altcoins also suffered significant sell-offs, with drops of 8% in XRP and stellar, around 4% in solana and uniswap, and nearly 5% in 'memecoins' like dogecoin and shiba inu. The most negative reactions have concentrated on publicly traded crypto companies, which are feeling the impact of the regulatory rejection.
This situation creates an atmosphere of uncertainty for investors, who had already anticipated the possibility of a regulatory blockage. Further updates on the situation are expected with attention in the financial sector.
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