Giancarlo: CLARITY Act failure won't kill US crypto industry
- —CLARITY Act failed a Senate procedural vote 49-50, short of the 60-vote threshold
- —Giancarlo: Gensler failed to kill digital assets, so the bill's failure won't either
- —SEC and CFTC can keep building crypto rules under existing statutory authority
- —Giancarlo chaired the CFTC in 2017-2019, overseeing the launch of US bitcoin futures
Why it matters: The bill's collapse shifts crypto rulemaking from Congress to the SEC and CFTC, whose rules are less durable against political and legal shifts.
Source: Blockmedia