US Stock Market Move | Bitcoin-related stocks decline, Circle (CRCL.US) drops over 8%.

On Tuesday, Bitcoin-related stocks declined, following a sharp rally in the sector yesterday. As of press time, Circle (CRCL.US) fell over 8%, Coinbase (COIN.US) dropped more than 6%, Bitmine (BMNR.US) slid over 5.7%, Strategy (MSTR.US) declined more than 4%, and Robinhood (HOOD.US) dropped over 3.7%. On the news front, the U.S. Senate is set to hold a key procedural vote on the Digital Asset Market Clarity Act. The bill seeks to establish the first relatively comprehensive regulatory framework for the crypto asset market in the United States, including which crypto assets are regulated by the SEC and which by the CFTC, as well as a series of rules covering trading platforms, DeFi, and anti-money laundering. It should be noted, however, that today's vote is not a vote that determines whether the bill ultimately becomes law. The current vote is aimed at ending procedural delays and advancing the bill into the formal Senate deliberation stage. Under Senate rules, this procedure requires 60 votes of support.