# Crypto's big Senate bill dies on the floor

> A Trump-backed plan to regulate crypto collapsed in the Senate, and its own author says it is not coming back.
- Title: Crypto's big Senate bill dies on the floor · Fox News
- Summary: A Trump-backed plan to regulate crypto collapsed in the Senate, and its own author says it is not coming back. The Clarity Act died because ethics language…
- Keywords: crypto, senate, regulation, trump, clarity act, news, politics, Crypto's, big, bill, dies, floor
- Source: Fox News — https://foxnews.com/politics/trump-backed-crypto-bill-fails-launch-dems-republicans-unite-block
- Author: Alex Miller
- Published: 2026-09-15T00:00:00+00:00
- Read time: 1 min
- Topics: crypto, senate, regulation, trump, clarity act, news, politics
## The bill stalls out
A sweeping crypto regulatory package backed by President Trump failed a key procedural vote in the Senate on Tuesday, blocking it before debate could even start.
## Both parties said no
Democrats delivered the fatal blow, but a handful of Republicans with unresolved concerns also refused to come along. With the calendar crowded before the midterms, backers expect it to sit on the shelf.
## Its author calls it over
Sen. Cynthia Lummis, the bill's primary architect, said she had spent over a year on it and granted more than 120 Democratic requests. Asked if it would return to the floor, she said no.

> I think we're done. It's over.
## Trump's crypto fortune
Several Democrats rejected the ethics language meant to slow the Trump family's crypto empire. Trump's income jumped about 250% from just over $620 million to roughly $2.2 billion, much of it from crypto ventures run by his sons.
## Dirty money worries
Sen. Andy Kim said the foreign money laundering provisions lacked teeth and that he needed real engagement on terrorist and cartel financing to vote yes.

> I'm still engaged. I didn't get on board with the GENIUS Act till the very last vote.
## Vote first, fix later
Sen. John Cornyn, undecided and worried about community bank yields and criminal misuse, argued the right move was to open the bill and amend it rather than kill it.

> What we used to do around here is something called legislate.
## Key takeaway

The Clarity Act died because ethics language around Trump's family crypto business and weak anti-laundering teeth cost it votes on both sides.