A major procedural vote on cryptocurrency regulation failed to advance. Legislation aimed at setting rules for digital currency oversight and taxation did not secure enough votes. The bill, known as the Digital Market Asset Clarity Act, needed 60 votes to move forward but fell short.

Further details about the bill and its implications are available. The House of Representatives had previously passed a version of the bill, which would have required additional approval from them if it had passed the Senate.

The outcome of the vote means the legislation will not move forward at this time.