U.S. Senate Delays Crypto Clarity Act Amid South Korean Market Turmoil
The U.S. Senate has postponed the Crypto Clarity Act to prioritize a Russia sanctions bill and federal nominations, leaving the bill's future uncertain as the summer recess approaches. This decision coincides with a significant downturn in South Korea's stock market, where the Kospi index fell by 11%, its worst single-day decline in years. The market turmoil in South Korea has sent shockwaves through global risk assets, including cryptocurrencies, with Bitcoin dropping 0.53% overnight. The delay in the Crypto Clarity Act adds to the uncertainty in the crypto market, which is already facing pressure from macroeconomic factors. 
