Senators were set to vote Tuesday on whether to advance legislation that would create a new federal framework for cryptocurrency regulation.
The procedural vote puts a spotlight on the $2.3 trillion crypto market just two months before the midterm elections. The measure has become a test of whether lawmakers can move forward on rules for the industry while President Donald Trump holds significant crypto investments.
Democrats have been largely opposed to the bill unless it includes stronger ethics protections aimed at stopping the president and his family from profiting while he is in office. Some Democrats support creating a regulatory structure, but critics in the party say the current measure does not go far enough.
The debate comes as the crypto industry has grown into a major political force, adding pressure around a vote with both financial and election-year stakes.
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