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Gold advocate and longtime Bitcoin critic Peter Schiff hasjumpedon the dramatic failure of the CLARITY Act to take another swipe at the world’s largest cryptocurrency.

Veteran investor Ross Gerber said on Tuesday that the Senate’s failure to advance the CLARITY Act means another setback for Bitcoin(CRYPTO: BTC).

Coinbase Chief Executive Officer Brian Armstrong expressed disappointment after the CLARITY Act failed to advance in the U.S. Senate, but said regulatory clarity for digital assets will still emerge through the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Add preferred source The U.S. Senate failed to advance the CLARITY Act, a bill that would have created the first federal regulatory framework for digital assets, falling short of the 60 votes needed on a procedural motion. Former CFTC Chairman Christopher Giancarlo said the setback would not stop the “march of innovation,” emphasizing that SEC…