U S Senate

Blockchain Association CEO Summer Mersinger is stepping down, with former longtime leader Kristin Smith returning as interim CEO. The move follows the Senate’s failure to advance the Digital Asset Market Clarity Act after a prolonged policy fight.

Patrick Witt defended President Donald Trump’s role in digital asset policy after the Digital Asset Market Clarity Act failed to advance in the U.S. Senate. The White House crypto adviser argued that Democrats turned ethics concerns into a political weapon while banking interests pressed lawmakers over stablecoin competition.

Bitcoin stayed near the $75,000 mark despite a Federal Reserve rate increase and the U.S. Senate’s failure to advance the Clarity Act. Traders now see the market caught between range-bound consolidation, regulatory uncertainty, and a possible breakout if price can clear $80,000.

The Digital Asset Market Clarity Act suffered a major Senate setback after last-minute disputes over ethics rules, stablecoin rewards, and negotiating tactics fractured bipartisan support. Lawmakers may still attempt a difficult lame-duck revival, but the failed vote has left the crypto industry’s market structure hopes uncertain.

The Digital Asset Market Clarity Act failed to advance in the U.S. Senate after falling short of the 60 votes needed to move forward. The defeat leaves crypto market structure policy in the hands of regulators for now, while industry groups reassess their political strategy.

A bipartisan group of state attorneys general is pressing the U.S. Senate to revise the Digital Asset Market Clarity Act before advancing it. The officials warn that ambiguous federal preemption language could limit state lawsuits tied to crypto scams, securities violations and commodities enforcement.

Large Bitcoin holders have accumulated over 20,000 BTC since July 29, while U.S. spot Bitcoin ETFs attracted $754.69 million this week. The buying has not yet delivered a decisive breakout, with technical traders watching for a close above $65,000.

The U.S. Senate will not vote on the Digital Asset Market Clarity Act before its late-summer break, slowing momentum for one of the crypto industry’s most closely watched bills. Lawmakers are expected to revisit the measure when the Senate returns to Washington, D.C., in September, but unresolved political and policy disputes remain.

Senate negotiations over the Digital Asset Market Clarity Act remain focused on conflict-of-interest limits for federal officials. The central dispute is whether enforcement should rest with state attorneys general or the U.S. attorney general.

The U.S. Senate approved a nonbinding resolution stating that Sam Bankman-Fried should under no circumstances receive a presidential pardon or commutation. The move highlights continued bipartisan anger over FTX’s collapse, customer losses exceeding $8 billion, and one of the most infamous fraud cases in crypto history.