CATCH ME UP
The Senate failed to advance the Clarity Act after the vote fell short of the 60 needed to move forward.
The bill was described as a sweeping cryptocurrency measure and a regulatory framework for digital assets.
One report said the vote was 50-49, with four Republicans joining all Democrats in opposition.
The setback was described as a blow for the industry and for supporting Republicans.
Why it mattersThe vote shows how hard it is to pass crypto regulation, which could delay clearer rules for exchanges, issuers, and investors.
More context
Reports said regulatory questions may now continue to rely on SEC and CFTC interpretations.