Regulation· ★★★★· neutral·

Galaxy: Crypto market will keep functioning without CLARITY Act after Senate failure

  • —The Senate fell short of 60 votes: 49-50, with all Democrats opposed and Hawley and Moran also voting no
  • —Galaxy cut its odds of passage to 10%, then raised them to 25% before the vote
  • —The CFTC issued no-action relief for DeFi front-end developers
  • —The SEC introduced an innovation exemption for tokenized equities
Why it matters: The failure of the CLARITY Act shifts U.S. crypto regulation toward agencies (SEC, CFTC), reducing rule predictability for the market.
Source: The Crypto Times
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