US Senate Crypto Bill Collapses Amid Partisan Deadlock

The US Senate's long-awaited crypto bill has collapsed due to partisan deadlock, marking a significant setback for efforts to establish a comprehensive federal framework for digital-asset markets.

Despite months of negotiations and frantic lobbying from the crypto industry, the Digital Asset Market Clarity Act failed to secure the 60 votes needed to advance to debate in the Senate. The bill's defeat has been attributed to disagreements over ethics provisions, banking regulations, and how the fast-growing industry should be governed.

Massachusetts Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, was a key opponent of the bill, arguing that it posed 'massive risks' to families, national security, and the economy. She also claimed that the legislation would benefit President Donald Trump's business interests by allowing him to rake in billions from crypto ventures.

The White House had strongly supported the bill, framing cryptocurrency as an international technology race where the US risks losing ground to competitors. However, the collapse of the bill comes at a time when Congress is struggling to keep pace with new technologies, including artificial intelligence.