A bipartisan market structure bill failed to clear a procedural vote in the Senate on Monday, ending a months-long push to deliver comprehensive digital asset regulation before year end.
Why it matters
The bill would have clarified which federal agency oversees digital assets and created a registration pathway for exchanges. Its failure leaves the industry operating under the existing patchwork of state and federal rules.
Reaction
Industry groups called the vote a setback but not a dead end, pointing to continued negotiations expected to resume next session.