CLARITY Act just died in Congress. Zero federal retail crypto protection framework in place.

$CFTC says they'll keep building rules. $SEC doing the same. But here's the issue:

Without legislation, everything they build sits on shaky ground. Agencies operating on old powers. Every rule they push can get challenged in court or wiped when the next admin walks in.

No congressional backing = no real investor protection. Just regulatory theater that shifts every 4 years.

U.S. retail traders still flying blind while other jurisdictions lock in clear frameworks. This isn't clarity. It's regulatory limbo.