The Senate rejected cloture on the motion to proceed to H.R. 3633, the Digital Asset Market CLARITY Act, by 49-50 on September 15, 2026, below the 60 votes required to advance comprehensive crypto market-structure legislation. BitGo CEO Mike Belshe warned at Korea Blockchain Week 2026 on October 2 that vertically integrated firms combining trading, brokerage and custody could turn one institutional failure into a market-wide crisis potentially worse than Lehman Brothers’ 2008 collapse. Senator Cynthia Lummis said the bill would have added bankruptcy-related customer disclosures, qualified custodians and segregated funds that FTX customers lacked. After the Senate setback, Coinbase-backed advocacy group Stand With Crypto endorsed more than 30 House members and candidates and several Senate candidates, including Jon Husted, Ashley Hinson and Chris Pappas, and said it would fund advertising in six House races. Its endorsed candidate pool was divided roughly equally between Democrats and Republicans.