US crypto bill just died in the Senate.
Digital Asset Market Clarity Act (H.R. 3633) failed cloture 49-50. Needed 60.
Zero Dems voted yes — even after 126 amendments they requested were added:
• Fed official ethics rules
• Dev/miner/validator protections
• Stablecoin backstops
• State AG enforcement powers
• New "Regulation Crypto" fundraising path
Bill would've given CFTC primary oversight of spot digital commodities and boxed out the SEC on token sales.
What now?
SEC and CFTC say they'll keep rulemaking under existing authority. Sen. Tillis filed motion to reconsider — so it's not dead dead.
But with midterms coming, the window is tight. Another vote before year-end is possible but unlikely.
Crypto stocks dumped. House is moving separate tax rules under a different bill.
Bottom line: Legislative path just got 10x harder. Expect more regulation by enforcement.
Digital Asset Market Clarity Act (H.R. 3633) failed cloture 49-50. Needed 60.
Zero Dems voted yes — even after 126 amendments they requested were added:
• Fed official ethics rules
• Dev/miner/validator protections
• Stablecoin backstops
• State AG enforcement powers
• New "Regulation Crypto" fundraising path
Bill would've given CFTC primary oversight of spot digital commodities and boxed out the SEC on token sales.
What now?
SEC and CFTC say they'll keep rulemaking under existing authority. Sen. Tillis filed motion to reconsider — so it's not dead dead.
But with midterms coming, the window is tight. Another vote before year-end is possible but unlikely.
Crypto stocks dumped. House is moving separate tax rules under a different bill.
Bottom line: Legislative path just got 10x harder. Expect more regulation by enforcement.