Senate Blocks Landmark Crypto Regulation Bill Amid Ethics Concerns

A landmark digital asset market structure bill has been blocked by US senators from both parties in a procedural vote.

The bill, which was supported by crypto firms, aimed to hand the Commodity Futures Trading Commission primary authority to regulate the digital assets industry.

However, Democrats cited continued concerns over ethics provisions meant to address President Donald Trump's crypto business interests as the reason for blocking the bill.

The legislation needed 60 votes to advance and was stalled in the Senate. It is unclear what will happen next with this bill.