The US Senate voted 49 to 50 against proceeding with the CLARITY Act, falling short of the three-fifths majority, or 60 votes, required for cloture (a procedure to end debate and overcome an objection). Senator Thom Tillis changed his vote from yes to no, preserving the ability to seek reconsideration later. The outcome followed negotiations over market structure, consumer protections, illicit finance provisions and the division of authority between the SEC (U.S. securities regulator) and CFTC (U.S. derivatives regulator), including a draft that Reuters said incorporated 126 changes requested by Democrats. Coinbase CEO Brian Armstrong, Galaxy Digital CEO Mike Novogratz and Ripple CEO Brad Garlinghouse criticized or expressed disappointment with the result, while Tillis said it was not a death knell. Bitcoin fell from $79,000 to below $76,000, more than $330 million in positions were liquidated across 80,000 accounts over 24 hours, and XRP dropped 10%, according to the cited market reports. The vote does not preclude the bill, but its near-term outlook remains uncertain as lawmakers weigh further negotiations and regulators face pressure to act under existing authority.