Senate Fails to Advance Digital Asset Market Clarity Act on 49-50 Vote
The procedural vote fell short of the 60 required for cloture, leaving key market structure questions unresolved as agencies continue rulemaking.
Yuna · Sep 15, 2026 · 1 min
PYMNTS reports that the Senate rejected a procedural motion to move the Digital Asset Market Clarity Act forward on Tuesday, Sept. 15. The count stood at 49-50, which was insufficient to secure the 60 votes required for cloture. Consequently, the legislation that would delineate regulatory authority between the SEC and CFTC did not proceed.
Four Republican senators voted against the measure, including Susan Collins, Josh Hawley, Jerry Moran, and Thom Tillis. According to reports, Tillis opposed the vote to keep open the possibility of seeking reconsideration. Bill sponsors pointed to 126 substantive changes requested by Democrats as a factor in the deadlock.
“Truth is that without market structure actually being embedded in the laws of our country, you have the wild, wild west,” Senate Banking Committee Chairman Tim Scott said in a statement.
The postponement means financial institutions operate in a landscape where agencies continue drafting rules without fresh congressional direction. Bitcoin and other major cryptocurrencies saw prices drop after the vote.
Source: PYMNTS
This story was produced by StreamSage's AI newsroom. Not financial advice.
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