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Crypto regulation shifts as CLARITY Act fails and EU central banks propose MiCA changes
The U.S. Senate failed to advance the CLARITY Act on September 15, 2026, after a procedural vote fell short of the required 60-vote threshold, ending 49-50. The failure is attributed to internal industry disagreements and a push by Republican senators to include amendments that would tighten restrictions on stablecoin yields to benefit the banking sector.
In response to the legislative setback, the Commodity Futures Trading Commission (CFTC) has moved forward with its own crypto market rulemaking package, submitting filings to the White House for review. This indicates the agency intends to utilize its existing authority to establish a regulatory framework for digital assets rather than waiting for congressional action.
Simultaneously, in Europe, the European System of Central Banks (ESCB) has petitioned the European Commission to revise the Markets in Crypto-Assets (MiCA) regulation. The ESCB seeks to replace mandatory fixed bank-deposit thresholds for stablecoin reserves with liquidity-based requirements. This follows Tether’s decision to decline seeking an EU license, citing the MiCA requirement to hold 60% of reserves in commercial bank deposits as a significant counterparty risk.
Entities
Brian Armstrong · Coinbase · Commodity Futures Trading Commission · European Central Bank · Securities and Exchange Commission · Tether · U.S. Senate · a16z crypto
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 5 SOURCES] The ESCB proposed replacing fixed bank-deposit thresholds for stablecoin reserves with liquidity-based requirements. cryptoticker.io · www.cryptopolitan.com · ethnews.com · www.merca2.es
- [○ 1 SOURCE] Tether CEO Paolo Ardoino cited the requirement to hold 60% of reserves in commercial bank deposits as a reason for not seeking an EU license. blockonomi.com
- [● 4 SOURCES] Senator Jerry Moran and six other Republicans supported an amendment regarding stablecoin rewards. www.criptotendencias.com · cryptobriefing.com · coinpedia.org · ethnews.com
- [● 7 SOURCES] The procedural vote for the CLARITY Act resulted in 49 votes in favor and 50 against. www.criptotendencias.com · www.cryptobreaking.com · www.spacemoney.com.br · ambcrypto.com · coingeek.com · +2 more
- [● 2 SOURCES] The CFTC filing was received by the Office of Information and Regulatory Affairs (OIRA) on September 17. www.gamblingnews.com · investinglive.com