CLARITY Act failure does not halt U.S. crypto regulation
- —Senate rejected the procedural vote on the CLARITY Act: 49 for, 50 against, with a threshold of 60
- —SEC proposed Regulation Crypto Assets on August 18 with exemptions up to $5 million and $75 million per year
- —CFTC allowed listing of bitcoin perpetuals on a registered exchange in May
- —The Fed raised rates by 25 bps to 3.75–4% on September 16
Why it matters: The regulatory vacuum is being filled by SEC and CFTC decisions, reducing the market's dependence on Congress, but the Fed's rate hike weighs on risk assets.
Source: Crypto Economy