Senate Delays Crypto Market Structure Bill Vote to September

The U.S. Senate has postponed consideration of the Digital Asset Market Clarity Act, a bill aimed at establishing a regulatory framework for cryptocurrency markets, until after the August recess. The Senate departed Washington on Saturday without voting on the legislation, which now faces long odds in the fall. The bill, which has been a focal point for the crypto industry, seeks to clarify the jurisdiction of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) over digital assets. Proponents argue that clear rules are necessary for innovation and consumer protection, while critics contend the bill may weaken existing securities laws. The delay is seen as a setback for the crypto sector, which had hoped for progress before the recess. The legislation will now be taken up in September, when the Senate returns, but its passage remains uncertain given the crowded legislative calendar and political divisions. The news was reported by Reuters and covered by Quartz.