U.S. Senate Delays Digital Asset Market Clarity Act Until September

The U.S. Senate has postponed action on the Digital Asset Market Clarity Act (H.R. 3633) until September, citing disagreements over new ethics rules and a crowded legislative calendar. The bill proposes to split oversight of crypto assets, assigning spot‑market authority over digital commodities to the Commodity Futures Trading Commission and investment‑contract assets to the Securities and Exchange Commission.

The legislation also introduces ethics restrictions that would bar federal officials and their spouses from issuing or sponsoring digital assets while in office, grant law‑enforcement stablecoin seizure powers, and temporarily ban official issuance of digital assets until January 20, 2029. Critics, including a bloc of Senate Democrats, argue the ethics provisions and anti‑money‑laundering measures are insufficient, while several major financial firms have expressed support for the framework.