Cryptocurrency equities experienced heavy losses on Tuesday afternoon following the Senate’s rejection of the Clarity Act, delivering a significant blow to a sector that has invested years and hundreds of millions of dollars in political donations to secure a definitive U.S. regulatory structure.
Coinbase (COIN) dropped nearly 9% to $174.42, whereas stablecoin issuer Circle (CRCL) fell 9.4% to $88.26. Galaxy Digital (GLXY) decreased by 8% and Gemini (GEMI) retreated 7%.
This downward pressure expanded across the entire sector. Robinhood (HOOD) declined 3%, Bullish (BLSH) dropped 5%, and eToro (ETOR) fell 4%.
Within the mining sector, Riot Platforms (RIOT) lost 5%, while MARA Holdings (MARA), CleanSpark (CLSK), IREN, and Core Scientific (CORZ) all recorded losses between roughly 3% and 4%.
These reductions followed a Senate vote of 49-50 on a procedural motion to push the Digital Asset Market Clarity Act forward, falling substantially below the 60 votes necessary.
The legislation would have established guidelines regarding how various digital assets and blockchain initiatives are regulated domestically, while granting the Commodity Futures Trading Commission enhanced oversight of cryptocurrency spot markets.
The bill’s defeat implies that the sector must endure a prolonged wait for the specific regulatory framework numerous enterprises maintain is essential for formulating long-term strategies within the United States.
The Senate tally did not account for the entirety of the market retreat. Tuesday’s session was additionally influenced by market participants reducing exposure ahead of Wednesday’s upcoming Federal Reserve announcement, which is anticipated to conclude with an interest rate increase.
Bitcoin (BTC) has declined roughly 3% over the preceding 24 hours, briefly descending near $75,000. Conventional equities, such as the Nasdaq and the S&P 500, traded lower as well.
Originally published at https://www.coindesk.com/markets/2026/09/15/crypto-stocks-sink-after-senate-rejects-clarity-act.
