TIM Scott

The Senate failed to advance the Clarity Act after no Senate Democrat voted to move the digital asset legislation forward. The setback has sharpened partisan conflict over crypto market structure, consumer protections, and the role of the SEC and CFTC.

Bitcoin briefly climbed to $70,000 on Wednesday, reaching that level for the first time in 11 weeks before easing back. The rally was supported by improving liquidity expectations, renewed focus on U.S. crypto legislation and a technical break watched by traders.

Two Republican senators have introduced legislation aimed at protecting U.S. artificial intelligence technology from foreign adversaries. The proposal would give the Commerce Department broader authority to defend the domestic AI industry.