Senate Blocks Digital Asset Market Clarity Act in 49-50 Vote

The Blockchain Association is expected to return founding CEO Kristin Smith to its top job as interim chief executive when Summer Mersinger leaves Oct. 16, days after the Senate blocked a major crypto market-structure bill.

Smith led the trade group from its launch in 2018 until 2025. She is expected to retain her role as president of the Solana Policy Institute while returning temporarily to the association.

The leadership change follows the Senate’s 49-50 vote on Sept. 15 against advancing the Digital Asset Market Clarity Act. One senator did not vote. The measure would establish a federal framework for digital-asset markets involving the Securities and Exchange Commission and Commodity Futures Trading Commission.

The Senate Banking Committee advanced the bill 15-9 in May. A motion to reconsider was entered after the Sept. 15 vote, leaving a procedural path for the Senate to revisit the legislation.

Mersinger said the vote was “not the end of our work” on consumer protections and regulatory clarity and that the association would continue working with lawmakers. Her departure is scheduled for Oct. 16.