Senate Votes on CLARITY Act as SEC Advances Crypto Rules

The U.S. Senate will hold a procedural vote on the CLARITY Act on September 15, after missing its August deadline.

Senator Risch says the Senate will start the process of passing the bill, which aims to provide consumer protection and boost U.S. economic competitiveness.

The delay puts the bill in a 'walking dead' state, according to Bitwise Chief Investment Officer Matt Hougan, who predicts that it can remain alive while regulatory uncertainty persists.

The SEC is advancing a parallel crypto rulemaking agenda, which could bridge parts of Congress' delayed crypto framework.

The CLARITY Act would establish a broader division of responsibilities between the SEC and Commodity Futures Trading Commission, including federal oversight involving digital commodities, registration, trading, customer assets, and market infrastructure.