The Senate’s failed cloture vote on a motion to take up the Digital Asset Market Clarity Act left its market-manipulation provisions untested, as Sen. Cynthia Lummis renewed her case for the legislation.
The cloture motion drew 49 votes in favor and 50 opposed on Sept. 15. It fell short of the 60 votes needed to invoke cloture, and one senator did not vote. The roll call addressed whether senators could move to consider the bill, not the substance of its proposed market-manipulation measures.
Trading abuses are central to Lummis’ pitch. She has argued that the bill would address pump-and-dump schemes and criticized Democrats who voted against taking it up. Lummis chairs the Senate Banking Committee’s Digital Assets Subcommittee. The bill would set federal rules for digital assets, but it remains stalled after the procedural vote.
EconoTimes previously reported on Lummis’ argument over custody protections after a Senate vote.
