Crypto Regulation Will Continue Despite Stalled Legislation

The CLARITY Act, a bill aimed at providing permanent federal rules for the U.S. crypto industry, has stalled in the Senate after failing to advance with a 49-50 vote.

This setback does not mean that regulation is dead, however. Experts say that while Congress may have stalled, crypto regulation will continue, albeit without the durability of legislation.

Brian Armstrong, CEO of Coinbase, believes that the SEC and CFTC already have enough authority to establish clearer rules for the industry. He argues that the industry can no longer wait for Congress to act and that regulators should move forward with rulemaking.