US Senate crypto bill collapses in blow to industry

What the report says

The US Senate has failed to advance a major cryptocurrency bill backed by President Donald Trump, stalling efforts to create the first broad federal framework for digital-asset markets, Al Jazeera reported on September 15, 2026. The Digital Asset Market Clarity Act did not reach the 60 votes needed to move to debate, with the tally finishing 50-49. According to the report, four Republicans — Jerry Moran, Rand Paul, Josh Hawley and Thom Tillis — joined Democrats in opposition.

Al Jazeera said the proposal ran into resistance over several issues, including safeguards tied to Trump’s crypto business interests and provisions affecting stablecoin rewards. Community banks opposed those parts, warning they could draw deposits away from traditional lenders and reduce lending capacity for farmers and small businesses. Senate Democrats, led in public criticism by Elizabeth Warren, argued the measure could expose families, the economy and national security to significant risks.

The defeat is a setback for crypto companies and Republican lawmakers who had promoted the bill for months. It also leaves regulators, including the Securities and Exchange Commission and Commodity Futures Trading Commission, with more room to shape policy in the near term. The report noted that industry advocates see congressional action as necessary for a durable regulatory system, while continued uncertainty could leave the sector vulnerable to court challenges and changes in political control.

Markets reacted negatively as the vote faltered, with bitcoin falling sharply and shares of Coinbase and Circle also declining.