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CLARITY ACT KILLED: SEC AND CFTC TAKE THE WHEEL ON CRYPTO REGULATION

• The Clarity Act, a key piece of crypto legislation, has stalled in the Senate, giving the SEC and CFTC the upper hand on crypto regulation.
• The Act's defeat shifts focus to a new wave of action from the two agencies, which may bring stricter rules and more oversight to the industry.
• The SEC and CFTC are expected to take a more aggressive stance on crypto, with a potential focus on derivatives and other complex products.
• The defeat of the Clarity Act also raises concerns about the potential for regulatory fragmentation, as states may begin to create their own crypto laws.

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