CFTC Takes Charge as CLARITY Act Fails in US Senate
The US Senate failed to pass the CLARITY Act on September 15, 2026, falling short of the required 60 votes. The bill aimed to settle a long-standing dispute over which agency regulates digital assets: the SEC or the CFTC.
Instead of Congress, the CFTC is now taking the lead in regulating crypto markets. Two days after the Senate vote, the CFTC filed two rule proposals on September 17, titled Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets.
The content of these filings is not yet public, but they are expected to outline how the agency intends to treat different digital assets as commodities or securities.
Meanwhile, the SEC has opened trading in tokenized stocks under a time-limited exemption. Trading venues can operate without being licensed as classic exchanges for five years, subject to volume limits and other conditions.