US Senate stalls Trump-backed cryptocurrency framework
A 50–49 vote failed to reach the 60-vote threshold needed to advance the Digital Asset Market Clarity Act, leaving US crypto policy exposed to regulatory and political uncertainty.
The US Senate has failed to advance the Digital Asset Market Clarity Act, a bill backed by President Donald Trump that sought to establish a comprehensive federal framework for digital-asset markets.
The measure received 50 votes in favour and 49 against, short of the 60 votes required to proceed to debate. Four Republicans — Jerry Moran, Rand Paul, Josh Hawley and Thom Tillis — joined Democrats in opposing its advancement.
The procedural defeat leaves the bill effectively stalled as Congress prepares to leave Washington ahead of November’s midterm elections. Tillis changed his vote from yes to no in a move that preserves the possibility of bringing the measure back for reconsideration.
Disputes over stablecoin rewards and safeguards concerning Trump’s crypto interests were among the obstacles. Community banks opposed the stablecoin provisions, arguing they could draw deposits from traditional lenders and reduce funding for farmers and small businesses.
Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, said the bill posed “massive risks to families, our national security, and our economy”. Trump has urged Congress to pass the legislation, while the crypto industry spent hundreds of millions of dollars campaigning for its advancement, according to Al Jazeera Global News.
The failure leaves the Securities and Exchange Commission and the Commodity Futures Trading Commission with greater scope to shape policy. Without legislation, industry regulations may remain vulnerable to political changes and court challenges. Bitcoin fell by more than 5 per cent as the bill appeared likely to fail, while Coinbase and Circle shares fell by as much as 10 per cent.
