According to CoinMeta, as reported by CoinDesk, the U.S. Senate failed to advance a bill aimed at increasing transparency in the digital asset market. The bill was intended to establish legal classifications for crypto tokens, issue licenses to trading institutions, and delineate regulatory powers between SEC and CFTC. With mid-term elections approaching, there is no possibility of resuming work on this bill before the end of the year. The chairpersons of the Senate's Digital Currency Subcommittee on Banking, Cynthia Lummis and Thom Tillis, will be leaving their positions. Goldman Sachs and Blackstone once supported this bill.