Regulators Draft Crypto Rulebook Amid Clarity Act Stalemate

US regulators have accelerated the drafting of a crypto rulebook after the Clarity Act stalled in the Senate. The move shifts regulatory momentum from Congress to agencies, forcing immediate action on updates to crypto regulation.

The Clarity Act aimed to provide clarity on US crypto policy but has been delayed. In response, regulators are now taking matters into their own hands by drafting a rulebook that will guide crypto-related activities in the country.

According to CNBC, this shift in momentum is significant as it moves regulatory power from Congress to agencies. This change could lead to faster and more streamlined regulation of cryptocurrencies in the US.