The Senate failed to invoke cloture on the motion to proceed to H.R. 3633, the Digital Asset Market Clarity Act, preventing formal debate but not constituting a final vote on the legislation. The vote followed a final draft released by Senate Republicans on Sept. 14 that contained 126 policy changes they said Democrats had requested. The revisions addressed token classifications, issuer disclosures, Securities and Exchange Commission (SEC), the U.S. securities regulator, and Commodity Futures Trading Commission (CFTC), the U.S. derivatives regulator, oversight, decentralized finance, bank protections, developer safeguards, consumer enforcement and federal ethics restrictions. Grayscale said the result was not its preferred outcome but argued that regulatory work at the SEC and CFTC continued. The asset manager said it would keep working with policymakers and regulators as U.S. crypto policy develops. Supporters including Ripple CEO Brad Garlinghouse backed Treasury Secretary Scott Bessent’s argument that the bill would provide more tools to address risks involving community banks and stablecoins (cryptocurrencies designed to maintain a stable value).