Bitcoin held near $64,300 while XRP posted the steepest weekly decline among major tokens after the U.S. Senate left for its August break without voting on the Clarity Act. The delay keeps a key crypto market-structure bill unresolved until at least September.
Bitcoin held near $64,300 while XRP posted the steepest weekly decline among major tokens after the U.S. Senate left for its August break without voting on the Clarity Act. The delay keeps a key crypto market-structure bill unresolved until at least September.
The delay matters because the Clarity Act is intended to define which U.S. regulator oversees different digital assets. That question remains central for crypto companies, token issuers and markets seeking clearer rules, but the bill’s path is uncertain: it needs 60 votes to pass, and CoinDesk reported it is unclear whether it currently has even 50.
Bitcoin traded near $64,300 on Friday, little changed on the day and flat for the week, after the U.S. Senate confirmed it would not vote on the Crypto Clarity Act before leaving Washington for its August recess. XRP was the weakest major token, falling more than 2% on the day to $1.02 and 5.5% over seven days.
The delay matters because the Clarity Act is intended to define which U.S. regulator oversees different digital assets. That question remains central for crypto companies, token issuers and markets seeking clearer rules, but the bill’s path is uncertain: it needs 60 votes to pass, and CoinDesk reported it is unclear whether it currently has even 50.
Other major cryptocurrencies were mixed. Solana slipped more than 1% to around $73 and was down nearly 2% for the week, while dogecoin fell almost 1% to below 7 cents. Ether was flat at $1,897 and down slightly over seven days, while BNB held near $591 and gained 1% on the week.
Hyperliquid’s HYPE eased less than 1% to around $56 but was still the strongest major over the seven-day period, up 1.3%. Meanwhile, spot bitcoin funds brought in about $626 million between Aug. 3 and Aug. 5, which CoinDesk said helped defend the $63,000 to $64,000 area but was not enough to push bitcoin through resistance between $66,000 and $66,600.
The Senate is expected to return on Sept. 14, with Majority Leader John Thune saying a vote would come in September. Markets will also be watching next week’s U.S. employment report and July inflation data after the Federal Reserve held rates at 3.50% to 3.75% in July, with three officials voting for an increase.
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