Senate Democrats Reject CLARITY Act as Bitcoin Ownership Surpasses Gold

Seven Senate Democrats rejected the latest CLARITY Act draft this week, citing insufficient provisions on ethics, consumer protection, and illicit finance. Bitcoin financial services firm River reported that 49.6 million Americans now own BTC, surpassing gold ownership among U.S. investors. Satsuma Technology shareholders voted to liquidate the London-listed company and sell its remaining 668 bitcoin, while BitMEX operator HDR Global Trading Limited announced the exchange's permanent closure effective Sept. 23, 2026. The CLARITY Act rejection stems from Democratic lawmakers' concerns that the draft does not adequately address regulatory safeguards. These developments reflect ongoing regulatory uncertainty and consolidation pressures across the cryptocurrency industry.

Senate Democrats Reject CLARITY Act Draft Over Ethics Concerns

Seven Senate Democrats rejected the latest CLARITY Act draft, stating it does not go far enough on ethics, consumer protection, and illicit finance. The rejection raises regulatory uncertainty as negotiations continue. Blockworks' Felix noted that CLARITY passing would be bullish, but failure to pass would likely catalyze the final leg down for Bitcoin and crypto, thus allowing it to form its bear market bottom.

River Reports 49.6 Million Americans Own Bitcoin, Overtaking Gold

Bitcoin has overtaken gold as the preferred hard asset among American investors, according to bitcoin financial services firm River. River's report states that 49.6 million Americans now hold BTC, signaling broader adoption as bitcoin surpasses gold in U.S. ownership.

Satsuma Shareholders Vote to Liquidate 668 BTC Holdings

Satsuma Technology shareholders voted overwhelmingly to liquidate the London-listed company, sell its remaining 668 bitcoin, and return capital to investors. The liquidation vote reflects ongoing consolidation pressures within the cryptocurrency industry.

BitMEX Announces Permanent Closure on Sept. 23, 2026

BitMEX operator HDR Global Trading Limited announced the permanent closure of the exchange, effective Sept. 23, 2026. Last month, before announcing the exchange shutdown, BitMEX's CEO and several other executives resigned or stepped down.

FAQ

Why did Senate Democrats reject the CLARITY Act draft? Seven Senate Democrats rejected the latest CLARITY Act draft because they stated it does not go far enough on ethics, consumer protection, and illicit finance.

How many Americans own Bitcoin according to River's report? River reported that 49.6 million Americans now own BTC, surpassing gold ownership among U.S. investors.

When will BitMEX permanently close? BitMEX operator HDR Global Trading Limited announced the exchange's permanent closure effective Sept. 23, 2026.