News, data and analysis on tokenized assets, market design and digital economic systems.
Standing Senate committee whose jurisdiction covers banks and banking, money and credit and the Federal Reserve System, and the Senate gate for digital-asset legislation: it voted 15-9 on 14 May 2026 to send the Digital Asset Market CLARITY Act to the floor.
Standing Senate committee whose jurisdiction under Rule XXV of the Standing Rules covers banks and banking, deposit insurance, money and credit including currency and coinage, and federal monetary policy including the Federal Reserve System, with 13 majority and 11 minority seats, chaired by Tim Scott of South Carolina with Elizabeth Warren as ranking member. It is the Senate gate for digital-asset legislation: it published its account of the Digital Asset Market CLARITY Act on 13 January 2026 and voted 15-9 on 14 May 2026 to send the bill to the Senate floor, two Democrats joining the majority. The bill would set the boundary between SEC and CFTC jurisdiction in statute rather than through enforcement, and bank trade associations used the markup to press for tighter limits on interest-like rewards paid to stablecoin holders.
Developments in which United States Senate Committee on Banking, Housing, and Urban Affairs is a named party, newest first.
Cloture on the motion to proceed to H.R. 3633 failed 49 to 50 on Monday afternoon. The threshold was 60, because since 1975 cloture has needed three-fifths of all senators.
Senate Republicans published 635 pages on Sunday night, two days before a procedural vote that needs sixty. Four changes from the 10 September version have not been read anywhere. The ethics ban no longer expires in 2029.
New York led seventeen other states and the District of Columbia in telling the Senate Banking Committee to vote no.
A 630 page substitute amendment published four days before a cloture vote would make anyone who controls a lending or trading protocol register with the CFTC and answer to the Bank Secrecy Act.
The letter puts nearly a million investors' losses at $3.81bn against $636m of gains for the President, and asks whether the coin was a soft rug pull. A blockchain analytics firm told CNN it shows no hallmarks of one, and the SEC would not comment.
The Senate Banking Committee released its version of the CLARITY Act on 11 May 2026 and advanced the crypto market structure bill out of committee that month. A further revision was reported in July 2026 as negotiators worked toward a bipartisan compromise.
Cloture on the motion to proceed to H.R. 3633 failed at 2:19 p.m. against a three-fifths requirement of 60 votes, so the chamber never took the bill up and no text was voted on. The Senate's roll call record gives four Republicans among the 50 nays, alongside 44 Democrats and two independents, with one Democrat not voting.
Lummis, Boozman and Scott released a 635 page substitute for H.R. 3633, claiming 126 changes requested by Democrats. Read against the 10 September version, the ethics sunset of noon on 20 January 2029 is gone, the developer shield no longer reaches 18 U.S.C. 1960, and the Treasury circuit-breaker on stablecoin rewards must be triggered within 18 months of enactment.
New York led seventeen other jurisdictions in a letter to the Senate Banking Committee objecting that the bill gives the SEC preemption authority indirectly through a new qualified transaction loophole in the Securities Act of 1933, and would render the covered security designations in section 18 meaningless. That provision is unchanged from the version published four days earlier.
Senator Cynthia Lummis published a 630 page substitute amendment to H.R. 3633 ahead of a Senate vote on 15 September. It requires rules for persons who control a non-decentralized finance trading protocol to register with the CFTC and to comply with the Bank Secrecy Act, and preempts state securities and commodities law over protected developer activities.
In a letter dated 3 August 2026, Senators Elizabeth Warren and Richard Blumenthal asked SEC chair Paul Atkins to investigate the $TRUMP memecoin for illegal fraud or unjust enrichment, arguing it may be a gradual rug pull. The letter cites press estimates that nearly a million investors lost over $3.81bn to the end of June while Trump made $636m. The SEC declined to comment.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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