U.S. Senate Fails Key Vote on Digital Asset Market Structure Bill
The procedural setback leaves the bill’s legislative future uncertain as lawmakers remain divided over ethics rules, stablecoin yields and decentralized finance risks.
The U.S. Senate failed to advance a key procedural vote for the Digital Asset Market Clarity Act on Sept. 27, putting the major U.S. crypto market-structure bill’s legislative future in doubt.
The bill is designed to define how regulatory authority over crypto markets would be divided between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The vote did not pass after lawmakers failed to reach agreement on ethics provisions covering crypto-related business ties involving the president and senior government officials.
Disputes also center on stablecoin yields, risks tied to decentralized finance and the bill’s broader language. The approaching midterm elections are adding pressure to the negotiations and complicating efforts to move the legislation forward.
The failed vote leaves the bill’s path through the Senate uncertain.
