Senate postpones digital asset market structure vote to September

Getting the bill to a vote requires 60 senators to support cloture. Senator Cynthia Lummis, a key crypto advocate, called the delay "frustrating" and said she remains committed to advancing the legislation in September.

The Independent Community Bankers of America warned that stablecoin provisions in the bill could reduce community bank lending capacity by $850 billion. The group argues that if stablecoins can offer yields with fewer guardrails, deposits could shift away from traditional banks, shrinking the pool available for loans.

The postponement compresses an already tight calendar. With midterm elections in November, the Senate will have a narrow window to act when it returns. GOP senators plan to address Democratic concerns on ethics and community banker objections during the fall session, according to a Senate leadership aide.