Michael Selig said the CFTC is "locked in and ready to ship its rules for the new frontier of finance." Paul Atkins said the SEC will "act decisively within the SEC's statutory authority." Both posted the statements to X on Wednesday, within two hours of each other, the day after the Senate blocked the market structure bill. The SEC has a crypto offering rule out for comment until Oct. 20. The CFTC has not proposed one.

Trade groups and executives responded to the Senate blocking the CLARITY Act by pointing at agency rulemaking, saying the SEC and the CFTC can keep writing crypto rules without the bill. Several framed the loss as one of permanence, since a future agency chair can rewrite a rule and repealing a statute takes another act of Congress. Mark Warner, one of the seven Democrats who negotiated the bill, said the president's ability to profit from crypto was what made it impossible for him to vote yes.

Cloture on the motion to proceed to H.R. 3633 fell 11 votes short of the 60 it needed. All 49 votes to proceed came from Republicans. Collins, Hawley, Moran and Tillis voted no, and Tillis voted no to preserve the right to move to reconsider, which he did a minute after the result was announced. Polymarket cut the odds of the bill becoming law this year to 6.5% from 29.5% on Monday.

The Senate Banking Committee is set to mark up the sweeping crypto market structure bill on Thursday.

The Federal Trade Commission settlement decision also ordered Mashinsky to pay the commission $10 million.

New York AG Letitia James filed suit against Coinbase and Gemini, alleging their prediction market platforms constitute illegal gambling operations lacking state licenses.

Coinbase CEO Brian Armstrong publicly supported Treasury Secretary Scott Bessent's call to pass the CLARITY Act, citing the urgency of crypto regulation.

The Federal Deposit Insurance Corporation a proposed rule that would establish a framework for stablecoin issuers supervised by the FDIC.

Coinbase got conditional approval from the OCC for its trust, a step toward federal oversight for its offerings to replace the current state by state licensing approach.

Law No. 15,358 gives judges sweeping power to freeze digital assets during investigations as Brasília takes a "financial strangulation" approach to organized crime.