Washington kept the Digital Asset Market Clarity Act alive. It missed August but gets another shot in September.

This matters: The SEC is already writing its own rules, creating a two-track regulatory system. The White House and Wall Street have already flagged the SEC’s “innovation exemption” for tokenized securities.

Our read: If the Clarity Act collapses, the next version will likely feature Democrats more prominently. Their digital asset skepticism points to a tougher regulatory environment ahead, pushing the industry further into a “grown-up era” of increased scrutiny.

Would you keep funds on a mid-tier exchange right now?

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