Crypto industry turns to US regulators after CLARITY setback
Crypto regulation faces uncertainty after the CLARITY Act stalls in the Senate Industry leaders look to SEC and CFTC guidance while a retry or new vote looms
Crypto industry leaders are looking to US regulators for clearer rules after the CLARITY Act failed to advance in the Senate on Tuesday. The bill fell short in a 4950 cloture vote, leaving the proposed digital asset framework stalled for now.
Executives from firms including Fireblocks, Ripple, NEAR, Bitget Wallet, and 1inch said they expect the Securities and Exchange Commission and the Commodity Futures Trading Commission to play a larger role in defining how crypto rules apply in the meantime. Some said the setback creates more uncertainty for firms planning budgets and compliance work, while others said another vote could still happen.
Senator Thom Tillis moved to reconsider the failed vote, which means the bill may get another chance. Still, several industry figures said the next Congress could become the more likely path for broader crypto market structure legislation if progress remains delayed.