The US Senate failed to advance the Digital Asset Market Clarity Act after the bill fell short of the 60 votes needed to invoke cloture, stalling a bipartisan effort to set federal rules for cryptocurrencies and related markets.

The setback came after negotiators produced more than 600 pages of compromise text, with ethics provisions still unresolved.

Outside groups had urged any crypto safeguards to cover families, as well as elected officials and senior executive branch officials, with financial interests in digital asset firms or projects.

The defeat follows the 2025 GENIUS Act, which created a framework for US stablecoin issuance, leaving the broader debate over crypto market structure unresolved.

Attention now shifts back to regulators. The Securities and Exchange Commission has issued guidance that clarifies laws for crypto assets, while a joint SEC-CFTC interpretation has helped divide oversight.

Crypto-backed super political action committee Fairshake remains active in primaries ahead of the November 3 election.

🔗 Source: CoinDesk

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