Overview
- The bill cleared the Senate Banking Committee on May 14 by a 15–9 bipartisan vote but still has no scheduled floor vote and remains on the Senate legislative calendar.
- Analysts and markets have cut their odds of 2026 enactment, with Galaxy Digital lowering its probability to about 60% and prediction‑market prices sliding in early June.
- More than 200 crypto firms and industry coalitions plus 60+ CEOs have urged Senate leaders to hold a July floor window and to preserve developer protections that shield noncontrolling software authors from money‑transmission liability.
- The White House has convened law‑enforcement meetings to review developer‑protection language after officials warned it could hinder financial‑crime probes and negotiators continue to haggle over ethics enforcement, DeFi/AML scope, and stablecoin yield limits.
- Before passage the Senate must reconcile the Banking and Agriculture committee texts, win roughly 60 votes to overcome a filibuster, and resolve the listed policy disputes or the bill risks slipping past the August recess with major issues still open.