The odds of the Clarity Act passing this year, which had jumped above 30% on Polymarket during the US trading session, fell back to 18% early Tuesday in Asia. That saw Bitcoin — which accounts for around 60% of the market value of all cryptocurrencies — retreat from as high as US$79,586 to below US$78,000 as of 8:40am in Singapore.

US Senator Mark Warner told reporters at the US Capitol that a group of Democratic negotiators would send a counteroffer to Republicans ahead of tomorrow’s pivotal procedural vote on the Clarity Act, the comprehensive crypto regulation bill that has been stuck in partisan wrangling for a year. The bill will need a number of Democrats to cross party lines to advance and move later to final passage thanks…