U.S. financial regulators are moving ahead with parts of a cryptocurrency rulebook under their existing authority after the Senate failed to advance legislation designed to establish a broader federal framework for digital assets.
The Securities and Exchange Commission and Commodity Futures Trading Commission began taking new steps within days of the Sept. 15 Senate vote on the Digital Asset Market Clarity Act. The bill fell short of the 60 votes needed to advance, leaving unresolved questions over how responsibility for digital assets should be divided between the two agencies.
