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The Senate’s first-ever move to incorporate digital assets into the regulated financial system disintegrated on Thursday.

Three things we learned from crypto’s Senate flop

The Senate’s first-ever move to incorporate digital assets into the regulated financial system disintegrated on Thursday. Lobbyists and staff have spent the last few days surveying the wreckage and plotting a path forward.

The push isn’t doomed. But the political landscape has changed with this failed vote, and not in crypto’s favor.

Here’s what we learned:

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Punchbowl News Presents

Our new weekly show, Fly Out Day, brings you inside the most consequential decisions shaping Congress with the people at the center of the story. From Hill leadership to Washington’s most-plugged in reporters, join us straight from our townhouse each Thursday evening. Watch the latest episode now.