Senate Fails to Advance Comprehensive Crypto Bill Amid Concerns
A bill aimed at establishing a federal framework for digital assets has stalled in the US Senate after failing to secure enough votes to proceed to floor debate.
The Digital Asset Market Clarity Act, supported by President Donald Trump, required 60 votes but only mustered a 50-49 vote with four Republican senators joining all Democrats to block it.
Opponents cited concerns about safeguards for the president's personal cryptocurrency holdings and structural objections from traditional financial institutions, particularly community banks that voiced strong opposition to stablecoin reward provisions.
Massachusetts Senator Elizabeth Warren criticized the bill as posing 'massive risks to families, our national security, and our economy,' adding it would 'turbocharge President Donald Trump's ability to rake in billions and billions of dollars from crypto.'