Senators Pledge to Revive Crypto Bill Despite Congressional Defeat

Seven US Democratic senators have pledged to keep pushing for passage of the Digital Asset Market Clarity Act, despite its recent defeat in the Senate. The bill received only 49 yes votes on September 15, falling short of the 60 needed to advance.

The signatories, including Senators Kirsten Gillibrand and Cory Booker, had voted against the bill due to concerns about President Trump's crypto interests and insufficient ethics provisions. They vowed to continue working towards passage in a bipartisan fashion.

Financial analysts at StoneX have deemed the bill effectively dead for this Congress, with fewer than 14 working days remaining before campaign season begins. Meanwhile, regulators such as the Securities and Exchange Commission and Commodity Futures Trading Commission may address the regulatory gap through direct rulemaking.