🇺🇸 4. What does the failure of the CLARITY Act mean now?
The CLARITY Act’s failure in the Senate has prompted U.S. regulators to make greater use of the authority they already have.
CFTC Chair Michael Selig explained that the agency believes it has legal authority, together with the SEC, to issue rules regulating parts of the crypto market. �
CFTC
But there is an important political and legal point: rules issued by agencies are not equivalent to a law passed by Congress, so some aspects of market regulation may remain vulnerable to political changes or legal challenges. �
The CLARITY Act’s failure in the Senate has prompted U.S. regulators to make greater use of the authority they already have.
CFTC Chair Michael Selig explained that the agency believes it has legal authority, together with the SEC, to issue rules regulating parts of the crypto market. �
CFTC
But there is an important political and legal point: rules issued by agencies are not equivalent to a law passed by Congress, so some aspects of market regulation may remain vulnerable to political changes or legal challenges. �