Armstrong urges SEC and CFTC to write crypto rules after CLARITY Act fails
- —The CLARITY Act failed a procedural Senate vote on September 15: 49-50
- —Armstrong: the SEC and CFTC can create rules under current authority
- —Moderate Democrats, including Gillibrand and Warner, voted against the bill
- —Stand With Crypto threatened electoral consequences for the bill's opponents
Why it matters: The bill's failure shifts crypto regulation to the SEC and CFTC, which will speed up rulemaking but without legislative certainty.
Source: AMBCrypto