US Senate Delays Digital Asset Market Clarity Act Vote Until September

The US Senate has delayed action on the Digital Asset Market Clarity Act (H.R. 3633) until September due to disagreements over ethics rules and a packed legislative calendar.

The bill, which aims to divide regulatory power between the SEC and CFTC, has been met with intense debates over privacy, developer liability, and anti-money laundering enforcement.

Banking groups have warned that the proposal leaves critical anti-money laundering gaps for DeFi platforms and transaction mixers, while major financial firms like BlackRock and Goldman Sachs have publicly urged its passage.

Seven Senate Democrats have expressed opposition to the bill's revised ethics and stablecoin provisions, citing concerns over insufficient safeguards and enforcement powers.