Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.

Today in crypto, the US Senate failed to advance the CLARITY Act in a key procedural vote after Polymarket odds sharply fell on the Act becoming law later this year. Meanwhile, a House tax package left out a proposed tax deferral for mining and staking rewards, and Polymarket traders sharply cut their odds of CLARITY becoming law this year amid mounting opposition ahead of the vote.

The US Senate failed to advance the CLARITY Act on Tuesday, dealing a setback to efforts to establish a comprehensive federal regulatory framework for digital assets.

The cloture motion fell well short of the 60 needed to move the legislation toward debate on the Senate floor. With limited legislative time remaining before a new Congress is sworn in, the failed vote puts the bill’s prospects for this year in doubt.

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