The CLARITY Act failed to advance in the Senate today, but the underlying need for clarity hasn’t gone anywhere. The industry still needs rules that define how these markets can operate, and give builders and institutions greater certainty.
Today’s vote may change the timeline, but it doesn’t change the importance of continuing to lobby on behalf of digital assets. It will be interesting to see how an eventual framework takes shape, whether through future legislation, guidance from the SEC and CFTC, or some combination of the two. Either way, we believe the time for digital assets to be understood by the broader financial system is coming fast!