A closely watched Senate effort to establish a broader federal regulatory framework for cryptocurrency has stalled after Democrats objected that the bill did not adequately address President Donald Trump’s crypto-related financial interests. Although this is a legislative fight rather than a court ruling, the setback is significant for lawyers and compliance professionals because it delays clarity on one of the most unsettled areas in financial regulation: who regulates digital assets, under what standards, and with what enforcement tools.

The proposed legislation was expected to help define the respective roles of securities and commodities regulators in overseeing crypto markets.

A federal judge in Miami has thrown out a proposed settlement in President Donald Trump’s $10 billion lawsuit against the IRS, finding the case was pursued for an improper purpose and concluding that the deal itself could not stand. In a sharp rebuke, U.S. District Judge Kathleen Williams also referred Trump attorney Alejandro Brito and senior Justice Department officials to bar authorities for possible professional-conduct violations.

The rejected agreement reportedly would have provided unusually broad protections for Trump and established a compensation fund approaching $1.8 billion.

A federal judge in Miami has thrown out a purported settlement between President Donald Trump and the IRS, finding that the underlying lawsuit was brought in bad faith and that the agreement cannot be relied on in future proceedings. In the same order, U.S. District Judge Kathleen Williams reportedly referred the lawyers involved to disciplinary authorities—an unusually sharp response that raises the stakes well beyond the immediate dispute.

The ruling is notable for two reasons.