The Clarity Act was declined to progress. Unfortunately, the Senate couldn't find 60 votes to pass for the Cloture Vote to be happening. A huge setback for the industry of #Crypto in the United States, but immediately, continuation is going to happen. This time it will happen through the SEC and the CFTC. What does this mean for the markets? Honestly, there's no question that this is a setback and markets have been selling off slightly due to this. Overall, in the long run, crypto is as strong as it always has been and will continue to develop even better applications and protocols. It would also be possible that they'll find a way to get this passed through, as the Genius Act didn't happen in the first instance either.