The US Senate rejected the Digital Asset Market Clarity Act (H.R. 3633) on September 15. The motion failed with a 49-50 vote, missing the 60-vote threshold required to advance the legislation.
The bill proposed establishing a 'digital commodities' category to shift oversight of assets like Bitcoin from the SEC to the CFTC. It had previously passed the House in July 2025 and cleared the Senate Banking Committee in 2026.
Opposition to the bill included all present Democrats and four Republicans. Key concerns cited by opponents involved consumer protection, banking sector objections, and ethics rules regarding federal officials' digital asset holdings.
Michael Saylor, executive chairman of Strategy Inc., characterized the rejection as a positive inflection point. He argued that regulators already possess sufficient authority under existing law and that the absence of new legislation may provide the industry with more flexibility.
Following the vote, the broader cryptocurrency market experienced price pressure due to investor uncertainty. However, Bitcoin demonstrated relative resilience, as its established status as a commodity meant it was less dependent on the proposed regulatory changes.
