Crypto Swoon: What's Behind the Crash and What's Next for Bitcoin and Ethereum The cryptocurrency market has taken a sharp hit with the failure of the CLARITY Act to pass the US Senate.
The act, which aimed to provide clarity on government ethics provisions and presidential conflicts of interest in the crypto industry, was blocked by Senate Democrats over concerns about these very issues.
The market's reaction is a stark reminder that despite growing mainstream acceptance, cryptocurrencies remain vulnerable to government whims.