SEC and CFTC to Accelerate Rulemaking After CLARITY Act Fails

The U.S. Senate's failure to advance the Digital Asset Market Clarity (CLARITY) Act has prompted expectations of faster, more direct rulemaking from the SEC and CFTC.

According to analysts at Bernstein, regulators are likely to 'make up for the time lost' in developing their own frameworks for crypto markets.

The shift could still deliver meaningful regulatory guidance for the industry, even if the legislative approach that would have 'fool-proofed the industry against political regime shifts' did not materialize.