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The extension gives Cboe the exclusive license to list S&P 500 index options through 2051, a franchise the companies say traded 970.6 million contracts last year. A single permissive sentence adds that the two may also pursue new products like tokenized options, with no product, venue, timetable or filing attached.
Cloture needed 60 votes and drew 49. Thom Tillis switched his vote to no and asked to enter a motion to reconsider, which one industry group says leaves room for a second attempt within two days.
Cloture takes 60 votes and Republicans hold 53. The provision holding the bill up is not market structure but an ethics ban on officials and their spouses issuing tokens.
John Thune filed cloture during August recess, forcing a 15 September test vote on the crypto market structure bill. Republicans need seven Democrats to cross over just to open the floor.
The Senate reserved Monday's roll call for the continuing resolution. Majority Leader Thune now only says he hopes to begin consideration of the bill before the August 8 recess.
Majority Leader John Thune said the crypto market-structure bill wouldn't reach the floor before the August 7 recess. Galaxy's Alex Thorn set the odds of 2026 passage at 30 per cent, down from 50 last month.
A coalition including Coinbase, Kraken, Circle, and Andreessen Horowitz sent a joint letter to the Senate Banking Committee demanding a markup of the Digital Asset Market Clarity Act — the bill that would finally draw jurisdictional lines between the SEC and CFTC.
The US Senate's most ambitious crypto market structure bill is stuck in a four-way deadlock between banking lobbyists, crypto firms, Democrats and Republicans. If it doesn't clear the Banking Committee this month, it may not get another chance before the midterms.
The world's largest crypto exchange will restrict spot order executions outside dynamic price bands from 14 April, a direct response to the thin-liquidity dislocations that rattled markets last October.
