The fate of long-awaited cryptocurrency legislation in the U.S. Congress was cast into doubt Tuesday, as a procedural vote to consider the measures was shot down by lawmakers from both parties, and shares of some companies in the sector fell.

Failure is a blow to the crypto industry which was hoping for a series of legislative wins this week. Read more at straitstimes.com. Read more at straitstimes.com.

Crypto week kicks off on Capitol Hill, with lawmakers set to debate a handful of bills that sources say could have a big impact on the market.