Bitcoin fell to a three-week low on Wednesday after the U.S. Senate rejected a motion to proceed on a cryptocurrency regulation bill, according to finance.biggo.com.
The procedural vote failed as Democrats and Republicans joined together to block the Trump-backed measure, Yahoo reported. Al Jazeera described the outcome as a collapse of the bill and a blow to the
The legislation had drawn attention well beyond Capitol Hill. CNN reported that the crypto industry had viewed President Trump as its savior, and noted that his own crypto business had secured a key p
The rejection leaves the regulatory picture for digital assets unresolved in Washington. The price drop in Bitcoin reflects how closely market sentiment has tracked legislative developments, with the
What to watch next: whether lawmakers revive the bill in a new procedural vote, and how Bitcoin trades in the sessions that follow.
The U.S. Senate voted down a motion to proceed on a crypto regulation bill, sending Bitcoin to its lowest level in three