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On September 16, the U.S. Senate failed to pass a procedural motion to advance the Clarity for Digital Assets Markets Act, which required at least 60 votes for approval but received fewer than 36. The bill aimed to establish the nation's first federal regulatory framework for digital assets, clarifying the jurisdictional boundaries between the CFTC and SEC. Previously, due to controversies over ethical provisions, 18 state attorneys general opposed the bill on the eve of the vote, arguing it would weaken states' ability to combat crypto fraud. With fewer than 36 working days remaining before the new Congress takes office, the bill is not expected to advance further this year, leaving the question of federal regulatory oversight for the U.S. crypto industry unresolved.
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