Clarity Bill Rejection Sparks Crypto Derivatives Turmoil as $670M Liquidated and XRP Slumps 15%

The Clarity Act, a bill aimed at regulating the digital asset market structure, failed to secure the necessary 60 votes for committee consideration in the U.S. Senate, causing immediate turbulence across digital asset markets. Market participants now fear further delays in establishing a comprehensive regulatory framework for digital assets in the United States. Following news of the bill's failure, prices of major cryptocurrencies including Bitcoin declined on Thursday (local time), with XRP dropping 15%.