US Crypto Regulation Stalls as CLARITY Act Fails in Senate Vote

The fate of comprehensive crypto regulation has hit another snag, this time in the US Senate. The Digital Asset Market Clarity Act, also known as the CLARITY Act, failed to advance after a cloture vote on September 15 fell short of the required 60 votes, getting only 49.

The bill aimed to clarify which federal agency oversees digital assets, splitting jurisdiction cleanly between the CFTC and SEC. However, it stalled due to disagreements over ethics provisions, stablecoin yield rules, and anti-money laundering requirements.

JPMorgan analysts warn that without legislation, regulatory gaps will be filled by agency rulemaking from the SEC and CFTC, which are less durable than laws passed by Congress.