Senate Blocks Clarity Act as Crypto Policy Shifts to Agencies

The U.S. Senate's attempt to advance the Clarity Act has stalled after failing to reach the necessary 60 votes, leaving crypto policy in limbo.

With negotiations on the market-structure bill stuck due to ethics provisions involving President Donald Trump's crypto business, Congress remains without movement on the legislation.

The Securities and Exchange Commission (SEC) has introduced a digital-asset 'innovation exemption' allowing eligible platforms to trade tokenized U.S. stocks on-chain without registering as national securities exchanges.

Meanwhile, the Commodity Futures Trading Commission (CFTC) has issued a no-action position for passive software providers and submitted a broader crypto-market rulemaking plan for White House review.