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The Digital Asset Market Clarity Act failed its cloture vote 49 to 50, and it did not die over the SEC and CFTC jurisdictional split or anything to do with stablecoins, it died over ethics rules tied to Trump and his family's crypto holdings.
That makes it a verdict on political ethics in an election year rather than a verdict on crypto market structure, which is why altcoins sold off harder than Bitcoin, since they are the assets that actually needed the classification.
A failed cloture vote is not a final legislative no, the existing SEC and CFTC authority stays in place either way, and a 2027 rewrite is still very much on the table.
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