Crypto Regulators Left Hanging as CLARITY Act Dies in Senate

The CLARITY Act, aimed at clarifying which regulator controls which part of the crypto market, stalled in the Senate on September 15. The bill failed to clear the 60-vote threshold needed to advance.

This leaves the US without a broad market-structure framework, but it doesn't mean crypto is unregulated. The SEC and CFTC were already coordinating on digital assets before the vote.

In March, they signed an official memorandum of understanding aimed at clarifying product definitions, modernizing trading rules, and developing a more coordinated crypto framework.