The U.S. Senate failed to advance the Clarity Act, legislation intended to clarify the regulatory framework for virtual assets, after a procedural vote on the 16th fell short of the 60 votes required. The setback was followed by broad declines in South Korean stablecoin-related stocks during early trading. At 9:53 a.m., Hecto Financial was trading at 18,870 Korean won on the KOSDAQ, down 14.23%, or 3,130 Korean won, from the previous session. Dozen fell 16.24%, while Danal and KakaoPay declined about 9% and NHN KCP dropped in the 7% range. The vote was 49 in favor and 50 against. Although Republicans hold 53 Senate seats, all Democratic senators opposed the measure and some Republicans also broke ranks. Senator Elizabeth Warren, the Democratic ranking member of the Senate Banking Committee, criticized the bill before the vote, saying it could allow President Trump to continue earning billions of dollars from cryptocurrency while working-class families face rising prices.