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  "description": "The U.S. Senate Banking Committee handed the crypto industry a significant legislative win last week, voting 15-9 to advance the Clarity Act, the first wide-ranging market structure bill for digital assets. The measure is championed by major crypto firms including Coinbase, Circle, and Ripple, which view predictable federal oversight as essential for drawing institutional capital. Two Democratic senators, Ruben Gallego of Arizona and Angela Alsobrooks of Maryland, crossed the aisle to join every",
  "path": "/clarity-act-advances-as-bitcoin-etf-outflows-and-cuban-sale-rattle-markets/",
  "publishedAt": "2026-05-22T12:05:52.000Z",
  "site": "https://news.bitcoinprotocol.org",
  "tags": [
    "The measure"
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  "textContent": "The U.S. Senate Banking Committee handed the crypto industry a significant legislative win last week, voting 15-9 to advance the Clarity Act, the first wide-ranging market structure bill for digital assets. The measure is championed by major crypto firms including Coinbase, Circle, and Ripple, which view predictable federal oversight as essential for drawing institutional capital. Two Democratic senators, Ruben Gallego of Arizona and Angela Alsobrooks of Maryland, crossed the aisle to join every Republican on the panel in supporting the bill.\n\nThe road ahead remains steep. The legislation must still clear the full Senate, where 60 votes are needed, and then the House, which passed its own version separately. Banks, labor unions, and law enforcement groups have lined up in opposition, arguing the bill could weaken consumer protections and make illicit financial activity harder to prosecute. A contentious conflict-of-interest provision tied to President Trump's broad crypto holdings also remains unresolved and must be addressed before a final floor vote.\n\n## Bitcoin Feels the Heat from ETF Outflows and a High-Profile Seller\n\nOn the market front, Bitcoin is trading near $77,000 amid a wave of macro headwinds that have kept bulls on the defensive. U.S. spot Bitcoin ETFs recorded $635 million in net outflows on May 13, the largest single-day withdrawal since late January, according to Finbold. That selloff followed worse-than-expected Producer Price Index data showing inflation rising 1.4% in April, dimming hopes for near-term Federal Reserve rate cuts and triggering roughly $77.95 million in Bitcoin long liquidations within 24 hours.\n\nAdding to the bearish mood, billionaire investor Mark Cuban told CoinDesk he sold most of his Bitcoin after concluding the asset failed to act as a hedge during recent geopolitical turmoil and dollar weakness. The admission from one of crypto's most recognizable mainstream backers landed hard on sentiment already strained by macro pressure. Despite the turbulence, Bitcoin's implied volatility has dropped to a seven-month low, and technical models suggest BTC could recover roughly 4.5% to challenge the $80,500 level before the end of May if key support near $76,900 holds.",
  "title": "Clarity Act Advances as Bitcoin ETF Outflows and Cuban Sale Rattle Markets",
  "updatedAt": "2026-05-22T12:05:53.053Z"
}