Senate Bill Fails to Advance Crypto Regulation Framework

The latest version of H.R. 3633, a Senate-amended bill, aims to establish a comprehensive framework for regulating digital assets.

Under this proposal, most crypto assets would be defined as digital commodities, and the Commodity Futures Trading Commission (CFTC) would serve as the primary regulator.

The measure failed to advance to floor debate in a September 15 procedural vote, falling short by a single vote with 49-50 against it.

Republican Senators Susan Collins, Josh Hawley, and Jerry Moran joined Democrats in opposition, along with Sen. Thom Tillis who voted no to file an amendment.