US Crypto Regulation in Limbo After CLARITY Act Failure
The CLARITY Act, a bill aimed at regulating cryptocurrency in the US, failed to pass in the Senate on September 15, 2026, with a vote of 49 to 50.
As a result, the patchwork of agencies regulating crypto in the US remains in place. The Securities and Exchange Commission (SEC) focuses on investment contracts, while the Commodity Futures Trading Commission (CFTC) oversees derivatives.
The SEC has proposed Regulation Crypto Assets, which would allow startups to raise up to $5 million over four years and up to $75 million in 12 months through fundraising exemptions.
The CFTC has also proposed a rulemaking on crypto assets, which is currently pending at the White House.
The Financial Crimes Enforcement Network (FinCEN) enforces the Bank Secrecy Act and requires businesses to register as money services businesses and implement anti-money laundering programs.
Meanwhile, the IRS treats crypto as property for tax purposes, and the Treasury Department's Office of Foreign Assets Control (OFAC) enforces sanctions that apply to crypto transfers.