US Regulators Move Forward with Crypto and Tokenization Initiatives Despite CLARITY Act Setback
The US Senate's failure to pass the CLARITY Act has led to a series of regulatory moves by the SEC and CFTC.
The act, which aimed to clarify the regulatory framework for digital assets, fell short of the required votes, receiving 49-50 in the Senate.
According to Coin Bureau, the SEC has since approved a framework allowing certain on-chain trading of tokenized US stocks, providing a regulatory pathway for eligible venues to facilitate trading involving tokenized securities under specified conditions.
The SEC's measure is not equivalent to passage of the CLARITY Act, but rather uses the commission's existing authority to establish a limited pathway for tokenized securities venues.
The CFTC has also sent new proposed rules covering crypto trading and crypto markets to the White House, which will enter the regulatory review process.