Could a stalled Clarity Act slow crypto dealmaking?
Summary
The Clarity Act failed to advance in the Senate, leaving U.S. crypto regulation uncertain and reducing its chances of passage this year. Industry bankers and investors do not expect the setback to halt crypto M&A, as SEC and CFTC actions are providing greater clarity in areas such as tokenization, trading and custody. They expect deals to continue in better-defined sectors, while token-centric businesses and pre-token financings may face more friction. Digital-asset deal value reached a record $9.7 billion in the first half of 2026, up 44% year over year, though announced acquisitions fell 8% and a few large deals drove most of the total. Recent transactions highlight demand for licenses, technology and distribution.
