CLARITY Act Failure Shifts US Crypto Rules to Agencies: Experts
Bernstein says the SEC and CFTC will move quickly to set token, DeFi and sports contract rules after the Senate blocked the bill.
- On Tuesday, the Senate failed to pass a cloture motion on the Digital Asset Market Clarity Act, which would have established the country's first regulatory framework for digital assets.
- Following the failed vote, Bernstein analysts expect "aggressive and swift" rulemaking from the SEC and the Commodity Futures Trading Commission to compensate for lost time negotiating the CLARITY Act.
- Proposed rules from the SEC aim to create a "clear and fit-for-purpose framework for certain investment contracts involving crypto assets," allowing token issuances up to $5 million over four years.
- SEC Chair Paul Atkins told CNBC on July 27 that the agency was "ready, willing, and able to come out with rules" on digital assets if the Senate failed to pass the legislation.
- Bernstein analysts view a re-vote of the Act as unlikely, noting that upcoming agency regulations will cover token taxonomy, developer protection measures, and innovation exemptions for equity tokenization.
26 Articles
26 Articles
Crypto Spent More Than $300 Million Building Political Power. Failure To Pass The CLARITY Act Exposed Its Limits.
Crypto's growing influence in Washington ran into a powerful counterweight as banks mobilized against key provisions and Democrats hardened their demands over ethics rules.
After Clarity Act Stalls, SEC and CFTC Say They'll Write Crypto Rules on Their Own
SEC Chair Paul Atkins and CFTC Chair Michael Selig said Wednesday they will act under existing authority after the Clarity Act stalled. JPMorgan analysts noted agency rules can be repealed by later administrations or challenged in court.
CLARITY Act failure shifts US crypto rules to agencies: experts
The failed Senate vote on the CLARITY Act has shifted attention toward the SEC and CFTC, while crypto founders and investors prepare for a longer period without a federal market structure law, industry experts told crypto.news. The U.S. Senate failed…
Cointelegraph
Bernstein Expects ‘Aggressive’ Rulemaking from SEC, CFTC, Following CLARITY Act Failure
Bernstein said it expects “aggressive and swift” rulemaking from the SEC and CFTC, after the CLARITY Act failed to pass a cloture vote on Tuesday.
Bernstein foresees a regulatory avalanche of the SEC and the CFTC after the fall of the CLARITY Act. The fate of the ETFs of Solana is decided in that calendar. The entry Bernstein anticipates an aggressive crypto SEC regulation: what happens with the ETFs of Solana appears first in Merca2.
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