CLARITY Act Dies in Senate as SEC and CFTC Write Crypto Rules Alone
- —Senate cloture vote on CLARITY Act failed 49–50, 11 short of the 60 needed
- —SEC issued Innovation Exemption on September 17, a five-year window for tokenized US stock venues
- —CFTC cleared crypto developers to build trading tools without broker registration the same day
- —Spot Bitcoin ETFs bled $450 million: FBTC lost $214.8 million, IBIT $161.7 million
Why it matters: Agencies, not Congress, now set the rules — reversible by a future commission, with market-structure legislation possibly slipping to 2030.
Source: CoinGape