Agencies Drive Crypto Regulations as US Legislation Stalls
US cryptocurrency regulation is shifting towards federal agencies as legislation stalls in Congress. The Clarity Act, an industry-backed bill aimed at defining whether crypto tokens should be regulated as securities or commodities, has stalled in the Senate.
The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are taking the lead in shaping regulations for the sector. The SEC is working on a proposal that could exempt certain token offerings from securities requirements, while the CFTC is expected to discuss additional cryptocurrency regulations during an industry event this week.
Industry executives and analysts argue that only legislation passed by Congress can provide long-term certainty for the sector. Without a statutory framework, regulations introduced by federal agencies could face court challenges or be reversed by future administrations.