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BTC 
XRP U.S. Senate vetoes crypto market structure bill, regulatory status quo continues
On Monday, the U.S. Senate threw a heavy blow on crypto market structure legislation. On the Digital Asset Market Clarity Act (the CLARITY Act, H.R. In a closing debate vote in 3633), the Senate rejected the motion by a vote of 49 to 50. The forces supporting the bill needed 60 votes to start a formal full-house debate, but ultimately failed to reach the threshold or even win in a simple majority vote.
Implications of the voting result
A procedural end debate vote requires the consent of at least 60 senators to advance the bill to full debate. Failure at this stage means that the bill has virtually no hope of passage in 2026; given the timetable for the midterm elections, its prospects may remain bleak until 2029.
With Congress expected to be divided into two parties next year, it is unclear when the Legislature will be able to resume dealing with market structure legislation. The bill aims to establish a federal market structural framework for digital assets and clarify the division of regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
The bill was previously passed by the House in July 2025 by a vote of 294 to 134 and was approved by the Senate Banking Committee in May 2026 by a vote of 15 to 9. However, Democrats require the bill to include strong ethics, conflict of interest prevention, and anti-illegal finance measures, while Republicans focus on providing clarity and certainty for markets and innovation. Those differences eventually became difficult to bridge before the vote.
市场反应
加密货币市场对这一结果做出了迅速反应。在结果确认前，比特币（BTC）跌至略低于75,000美元的水平，随后回升至约76,000美元，当日跌幅约为3.79%。XRP表现更为疲软，下跌约9.74%，整个加密货币总市值约为2.59万亿美元，跌幅约为3.63%。
去中心化预测平台Polymarket上关于《CLARITY法案》在2026年签署成为法律的概率预期已骤降至18%，较前一天的峰值约30%大幅下滑。此次投票失败很可能使当前立法会议期间该法案通过的概率趋近于零。
对于加密行业而言，这一结果意味着监管现状得以维持。虽然失败的终止辩论投票并不撤销已在众议院通过的法案，但它阻碍了参议院的正式审议进程，并使企业默认遵循的双重SEC-CFTC合规路径继续存在。
