U.S. Senate Postpones Crypto Legislation, Triggering $140 Billion Market Selloff
Bitcoin plunged below $86,000 on Monday as cryptocurrency markets shed $140 billion in total capitalization within hours, driven primarily by delays in key U.S. regulatory legislation. The sell-off pushed total digital asset market capitalization to a three-week low of $3.02 trillion.
What Happened: Legislative Setback
A U.S. Senate Banking Committee spokesperson confirmed Monday that planned crypto market structure legislation will not advance this year, pushing the bipartisan bill into early 2026.
“The Committee is continuing to negotiate and looks forward to a markup in early 2026,” the spokesperson stated.
The proposed legislation would grant the Commodity Futures Trading Commission authority over spot cryptocurrency markets, a…
