Seven U.S. Democratic Senators — Kirsten Gillibrand, Angela Alsobrooks, Cory Booker, Catherine Cortez Masto, Ruben Gallego, Mark Warner and Raphael Warnock — said they remain committed to passing the Digital Asset Market Clarity Act. "This week was a setback, but not the end of that important work," the senators wrote, noting two years of effort to pass crypto legislation to "expand opportunity, protect consumers, punish bad actors, create regulatory certainty, and include strong, commonsense ethics provisions for elected officials." The statement followed the bill’s failure to clear a Senate procedural vote on Tuesday; it needed 60 votes but received 49. All seven senators who signed the statement voted no. Analysts at StoneX said the bill is dead for this Congress with only 14 working days left before the campaign season. Bernstein expects the SEC and CFTC to fill the gap through "specific rule-making" on token classification, DeFi and self-custody protections, and equity tokenization. JPMorgan said agency rulemaking could establish guardrails to "appease the crypto-ecosystem and instill some confidence into incremental capital flows," though it’s less durable than legislation. [The Block]