Regulators Gear Up for Increased Crypto Oversight if Lawmakers Stall

Regulators at the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are preparing to step up oversight of the cryptocurrency market if lawmakers fail to pass a regulatory overhaul bill. The Clarity Act, which would grant the agencies more power to regulate digital assets, stalled in the Senate before its August recess.

Majority Leader John Thune (R-S.D.) has scheduled a vote on the measure when the chamber returns in mid-September. However, with time running out ahead of the November election, it remains uncertain whether a compromise will be reached.