Bitcoin and XRP Await the Fed After CLARITY Act's Failure: Another Blow Coming?

Crypto markets are bracing for the Federal Reserve’s (Fed) rate decision on September 16, just a day after the CLARITY Act failed to advance in the Senate.

XRP dropped nearly 10% toward $1.30, Bitcoin slipped below $76,000, and more than $300 million in leveraged positions got liquidated within minutes. Crypto Liquidations Data – 24 Hours. Source: Coinglass Why the CLARITY Act Vote Failed The U.S.

Senate failed to advance the CLARITY Act on September 15, falling short in a 49-50 procedural vote that required 60 votes to pass. Tuesday’s vote was never a final passage vote.

Failure stalls formal consideration for now, but it does not permanently kill the CLARITY Act, which sought clearer jurisdictional lines between the SEC and CFTC for digital assets.