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- Crypto vows Clarity payback ⚔️
Crypto vows Clarity payback ⚔️
With the Clarity Act having failed to pass the Senate, industry advocacy group Stand With Crypto vowed to score senators' votes on the issue ahead of the midterms.
📝 What you need to know
With the Senate failing to advance the Clarity Act, a crypto advocacy group backed by Coinbase has claimed that voters are “running out of patience” with their elected officials. Stand With Crypto has vowed to score senators’ votes on the Clarity Act on its scorecard ahead of the midterm elections, so that “every voter can understand where elected officials stand on crypto priorities.”
Behind the bravado, the crypto industry has taken something of a body blow, with Bitcoin ETFs posting their worst day since June in the wake of the vote. Some analysts, meanwhile, argued that while the act’s failure to pass could extend the market bottom, the "true pricing mechanism" for the current downturn remains "U.S. dollar liquidity, rather than congressional legislation."
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