The US Senate in Washington did not support a procedural vote to advance the Clarity Act bill, which was intended to create a regulatory framework for the cryptocurrency market worth about $2 trillion. Forty-nine senators voted for the move and 50 against it; four Republicans were among the opponents, The Japan Times reports.

The bill was intended to determine which cryptocurrencies fall under securities legislation and which are subject to commodity market regulation rules. Representatives of the crypto industry consider the document important for the sector’s continued operations in the United States and for eliminating legal…