The drop showed how a procedural setback for a regulatory bill immediately spread across crypto-related stocks. [Photo: Reve AI]

[DigitalToday reporter Jinju Hong] U.S. crypto-related shares fell across the board on Sept. 15 after the U.S. Senate failed to clear a procedural step to bring up the Clarity Act.

Cointelegraph, a blockchain outlet, reported that shares of Coinbase and Circle fell about 10 percent each on the day, while bitcoin miners and companies holding bitcoin also slid.

The drop was a response to the Senate failing to secure the 60 votes needed in a cloture vote to bring the bill to the floor. The Clarity Act includes measures to set rules for the U.S. digital asset market and to distinguish which parts of the industry fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).

Coinbase fell 9.9 percent, according to Yahoo Finance tallies. Companies holding bitcoin also could not avoid weakness. American Bitcoin fell about 8 percent, while Strategy and Strive each fell about 5 percent. Bitcoin miners also weakened. Riot Platforms fell about 6 percent, Cleanspark nearly 5 percent, Hut 8 more than 4 percent and Iren about 4 percent.

Cryptocurrency prices also wobbled. Bitcoin briefly dipped below $75,000 right after the vote, then rose back to around $76,000. Both the stock market and the crypto market appeared to react sensitively to weakening expectations for regulatory clarity.

The vote outcome has prompted expectations that it will not be easy for the bill to regain momentum within this year. That is because fewer than 36 legislative days remain before a new Congress starts after the November midterm elections. As a result, the U.S. digital-asset regulatory framework that the industry had been expecting has also been left with uncertainty for the time being.

Coinbase Chief Executive Brian Armstrong (브라이언 암스트롱) has strongly argued that the Clarity Act could pass. He said in May that the bill was in a stronger and more bipartisan position than ever. He then said in August, "Either we get more than 60 votes in the Senate on Sept. 15 or, if the bill does not advance, the CFTC and SEC will roll out new rules on Sept. 16." At the time, he wrote on X, "Either way, clarity is coming."

Armstrong also urged senators to support the bill just ahead of the vote. He said, "The choice is whether to spur U.S. crypto innovation or let other countries take the lead," adding, "History and crypto voters will not forget."

By contrast, Strategy co-founder Michael Saylor put out a different message after the vote. He wrote on X, "The only clarity you need is Bitcoin."

Against this backdrop, the market's next focus is expected to shift to whether lawmakers try again and how regulators respond. As Armstrong mentioned, whether the CFTC and SEC move to overhaul rules separately, or whether congressional discussions resume within the remaining session, remains a short-term variable.

Keyword

#Clarity Act #Coinbase #Circle #CFTC #SEC
Copyright © DigitalToday. All rights reserved. Unauthorized reproduction and redistribution are prohibited.