CRCL and COIN plunge, but why is CIFR up 10%? "Regulation" and "AI Power" divide the fortunes of crypto stocks

On the 15th, the U.S. Senate voted on a procedural motion to advance deliberations on the crypto asset market structure bill, the "CLARITY Act." However,the vote ended with 49 in favor and 50 against, falling short of the 60 votes required for passage.

What was voted on this time was not the bill itself, but a procedural motion to advance deliberations in the Senate. Therefore, the rejection does not mean the bill is immediately scrapped. However, the timing of a revote is uncertain, and concerns are spreading that the establishment of crypto asset regulations will be further delayed.

The "CLARITY Act" aims to clarify the regulatory jurisdictions of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), establishing clear rules for crypto asset service providers. It was expected that as legislation progresses, exchanges and stablecoin issuers would find it easier to form partnerships with financial institutions and roll out new services.