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A Senate cloture vote, which is the procedural step that ends debate and clears a bill for a floor vote, failed 49 to 50 on September 15, leaving Solana ($SOL) without the legal foundation the crypto industry had spent years trying to secure.
Solana fell 3.4% on the day to trade near $97, and the price chart now points toward a $94.16 support level that must hold before the fourth quarter arrives. What the Senate blocked The bill is H.R.
Senate rules require 60 votes to end debate, and Majority Leader John Thune fell short at 49. Republicans hold 53 of the Senate's 100 seats, so Thune needed seven Democrats or independents to cross over.
Negotiators had already folded 126 Democratic amendments into the bill, including new ethics restrictions on crypto dealings by public officials.
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