US Crypto Bill Crashes Amid Senate Partisan Deadlock

A long-awaited US cryptocurrency bill has stalled in the Senate due to partisan disagreements over ethics and regulation. The Digital Asset Market Clarity Act, which aimed to establish a comprehensive federal framework for digital-asset markets, failed to secure the necessary 60 votes.

The bill would have divided oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission, replacing a patchwork of regulations that has shifted between administrations.

Massachusetts Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, expressed strong opposition to the bill, saying it posed 'massive risks' to families, national security, and the economy.

The defeat marks another challenge for lawmakers as they struggle to keep pace with rapidly evolving technologies like cryptocurrency and artificial intelligence.