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Democratic leadership said the bill "deregulates crypto" by taking away the SEC's existing authority, that it has loopholes, and that it doesn't have enough investor protection. They also dislike crypto and don't want to validate it or pass laws to help it grow.

Very odd to see Dems vote against regulation, though.

Just want to point out that Nancy Pelosi voted for the bill. She's literally the democrat leader in the house.

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She’s influential but not in leadership anymore. That’s Hakeem Jeffries now.

The ranking members (top Democrats) of the two committees that originated the bill (Waters and Scott) opposed it aggressively. Jeffries also voted no.

They didn’t whip votes against it though, which is an important bit of progress.

Ahh you are correct. Forgot she did not stand for reelection.