The Senate Banking Committee voted 15-9 on Friday to advance the Digital Asset Market Clarity Act, sending the long-awaited crypto regulatory framework to the full Senate floor. The bill still needs a simple majority to pass, but Democrats have signaled they'll push back hard, citing weak anti-money-laundering provisions and potential conflicts of interest among lawmakers who hold digital assets.
What's in the bill — and what's not
The legislation aims to set federal rules for crypto exchanges, custody, and token classification. But one big piece is still missing: banks and crypto firms can't agree on how to treat stablecoin rewards. The disagreement has kept stablecoin language out of the current draft, leaving a gap that could complicate floor negotiations.
Supporters say the bill would finally give the industry a single rulebook instead of a patchwork of state laws. Critics argue the AML language is too weak and that lawmakers with personal crypto holdings should be barred from voting on the measure.
Who's buying crypto now
Separately, new survey data from 2026 paints a picture of a rapidly maturing user base. 67 million American adults now own cryptocurrency — up from roughly one in five a year ago. 12 million people entered the market in the past twelve months alone.
The stereotype of the young male trader is fading fast. More than 33% of crypto holders are now women, a 10-percentage-point jump in one year. And the 55-and-older crowd now outnumbers the 18-to-24 group among recent buyers. More holders work in construction than in finance. The South accounts for 38% of all holders, followed by the West at 27%.
Trust keeps climbing
69% of crypto holders say they trust crypto, compared to 65% who trust traditional banking. Nearly a third said seeing crypto integrate with mainstream systems like PayPal, Visa, and banks improved their perception. Government oversight and clearer rules were cited by 39% as a trust-building signal — behind transparency from crypto companies (49%) and real-world use cases (42%).
Usage is also broadening. 87% of holders actively used crypto in 2026, up from 80%. 41% send it to friends and family, up from 31%. 40% now use it for shopping and paying for goods and services. And 54% say financial independence is a key reason they hold.
What holders want next
The survey asked what would make people use crypto more. Earning rewards and interest topped the list at 40%, followed by wider payment acceptance (35%), personal knowledge (35%), reduced volatility (34%), and smarter regulation (32%).
76% want their bank to let them buy and manage crypto alongside regular accounts. 90% of current holders plan to buy more in the next year. Whether the Digital Asset Market Clarity Act — or whatever version emerges from floor debate — can deliver that smarter regulation is the open question. The Senate hasn't set a date for the floor vote yet.
