The Digital Asset Market Clarity Act (H.R. 3633) failed to advance in the Senate on September 15, 2026, with a vote of 49 to 50. The bill required 60 votes to pass cloture, falling 11 votes short of the necessary threshold.
Every Democrat voted against the legislation, joined by four Republicans. Senator Cynthia Lummis, who led the bill alongside Senators John Boozman and Tim Scott, criticized the Democratic opposition. She noted that the bill incorporated over 120 amendments from Democratic senators, increasing its length from approximately 300 to over 600 pages.
The legislation aimed to establish a regulatory framework for digital assets and clarify the jurisdictional boundaries between the SEC and the CFTC. Following the vote, crypto-related stocks declined, with Coinbase shares dropping 8% and Circle shares falling 10%.
Senator Lummis stated that the bill is effectively dead for the current Congress and suggested it may not be revived until 2030. She expects federal agencies to continue shaping crypto regulation through enforcement and guidance in the absence of congressional action.
