Hougan: Clarity Act Failure Paved Way for Faster Crypto Rulemaking
- —Senate failed to advance the Clarity Act on September 15, short of 60 votes
- —Bitcoin has gained about 8% and Ether 7% since the vote
- —SEC granted a conditional five-year exemption for tokenized stocks on September 17
- —Hougan: agency decisions are less durable than legislation and can be revised
Why it matters: The failed bill accelerated piecemeal regulatory action that lifted markets, but left the rules exposed to political shifts and court challenges.
Source: CoinCentral
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