A failed Senate vote has killed hopes for near-term crypto market-structure rules, opening the door to more agency enforcement and a costly political fight heading into the midterms.
USB sticks loaded with USDT changed hands in Caracas hotels and restaurants as a chain of intermediaries multiplied, according to a Financial Times investigation that has already produced criminal charges against former executives at the Polish energy group's Swiss trading arm.
Coinbase led the selloff with a decline of roughly 10%, and total crypto market capitalization fell more than 3%, as the bill's defeat closes off, for now, the market-structure framework the industry had lobbied for over several years.
