Crypto industry turns to US regulators after CLARITY setback
The Senate failed to advance the CLARITY Act, a major crypto market-structure bill, after a 49-50 cloture vote fell short of the 60 votes needed. Crypto leaders said the setback prolongs regulatory uncertainty, but many shifted focus to potential rulemaking from the SEC and CFTC as the next best source of clarity. Ripple’s Brad Garlinghouse said optimism remains if those agencies deliver rules, and SEC Chair Paul Atkins has said clearer crypto guidance can move ahead with or without new legislation. Industry figures warned that relying on agency discretion leaves firms exposed to case-by-case judgments and unclear treatment under securities, commodities, and money-transmission laws. A renewed vote remains possible, but many see Congress’s current term as too compressed for passage. Polymarket odds of the bill becoming law in 2026 dropped to 5% after the failed vote.
