U.S. Regulators Rush Crypto Rules 2 Days After Senate Stalls Clarity Act
Updated
Updated · CNBC · Sep 22
U.S. Regulators Rush Crypto Rules 2 Days After Senate Stalls Clarity Act
3 articles · Updated · CNBC · Sep 22
Summary
Two days after the Clarity Act failed to advance in the Senate, the SEC opened a temporary pathway for trading certain tokenized stocks and the CFTC sent a crypto rule proposal to the White House for review.
That push reflects a scramble to fill the federal policy vacuum, with industry groups and Coinbase CEO Brian Armstrong saying firms cannot wait for Congress before traditional finance expands further into digital assets.
Federal agencies are still limited by slower rulemaking timelines: the SEC said it will consider updating custody rules for advisers and funds to address crypto assets, while the CFTC says it will use existing statutory authority.
States are also pressing for influence, with a bipartisan group of attorneys general urging the Senate to reject the Clarity Act because it could weaken state securities oversight even as federal advocates argue national markets need federal rules.
The legislative fight is not over—Sen. Thom Tillis switched his vote procedurally so he can seek reconsideration—but midterm politics are now crowding out a near-term congressional fix.
Will the SEC's temporary exemption truly pave the way for 24/7 tokenized stock trading, or just delay an inevitable market clash?
Could the federal push for centralized crypto rules inadvertently strip states of their power to protect consumers from digital fraud?
Can agency-level rule changes unlock institutional capital, or will traditional finance remain sidelined until permanent legislation is finally enacted?