[REVISION HISTORY]

US CLARITY Act stalls as crypto regulation shifts to agency

Updated 33 times since CLSTR started tracking revisions of this situation.

What changed

2026-10-08 04:58 UTC → 2026-10-22 04:12 UTC · added ~~removed~~

The Digital Asset Market CLARITY Act remains stalled in the U.S. Senate following a failed cloture vote ~~that~~ on September 15, 2026, which saw 49 votes in favor and 50 against. ~~While~~ Despite efforts by Senate Republicans to release a revised 630-page draft incorporating over 100 changes to address Democratic concerns regarding ethics and “non-decentralized finance trading protocols,” the ~~act intended~~ bill failed to ~~divide oversight between~~ reach the ~~SEC and CFTC,~~ 60-vote threshold required to proceed. In response to the legislative ~~deadlock has shifted~~ deadlock, the regulatory focus has shifted toward agency ~~rulemaking and separate legislative efforts, such as~~ rulemaking. CFTC Chair Michael Selig indicated the ~~House Ways and Means Committee advancing~~ agency will utilize its existing authorities to establish a regulatory regime for digital assets, including potential oversight of unregistered exchanges. The CFTC has already begun submitting rulemaking packages to the White House. Meanwhile, the SEC continues to propose frameworks for treating digital asset ~~taxation bill (H.R. 10357).~~ offerings as investment contracts. Industry reactions ~~to the stalemate~~ remain divided. ~~Bitwise suggested the market might benefit from~~ While leaders like Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse have advocated for the ~~absence~~ act to ensure institutional adoption, others warn of the ~~act, arguing the text had been weakened by concessions. However, BitGo CEO Mike Belshe warned~~ consequences of delay. Senator Cynthia Lummis cautioned that if reform fails during the ~~lack~~ current Congress, the next opportunity may not arrive until 2030. Former Secretary of ~~clear regulation could create systemic risks similar to~~ Defense Mark Esper has also characterized the ~~Lehman Brothers collapse if entities continue to serve~~ act as a “one-stop shop” for exchange, brokerage, and custody functions. In a shift toward deregulation, the Financial Crimes Enforcement Network (FinCEN) has withdrawn two major proposed rules. The first, from 2020, would have imposed strict reporting and identity verification on unhosted or self-custody wallets. The second, from 2023, targeted cryptocurrency mixing services. FinCEN stated these requirements could have created a “chilling effect” on legitimate activity. These moves align with the Trump administration’s goal “national security imperative” to ~~ensure regulations are “fit-for-purpose.” Despite these shifts, legislative pressure continues.~~ prevent rivals from setting global financial standards. House Financial Services Committee Chair French Hill ~~is advocating~~ continues to push for ~~the CLARITY Act’s~~ passage during the upcoming lame duck session, arguing that ~~current SEC and CFTC~~ agency measures are insufficient compared to permanent legislation. ~~Meanwhile, the CFTC is moving to establish its own framework to oversee crypto asset transactions, specifically focusing on retail operations and leveraged trading.~~

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