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Key Takeaways
- Both regulators will use existing legal authority.
- SEC plans address offerings, custody and recordkeeping.
- CFTC action focuses on leveraged crypto markets.
- Comprehensive spot oversight still requires congressional action.
- Agency rules face reversal and court challenges.
The vote changed the route, not the law
The Senate’s failure to advance the CLARITY Act did not expand either regulator’s powers. It blocked the immediate legislative route, leaving the SEC and CFTC to continue work they had already announced under existing statutes.
SEC Chair Paul Atkins said after the vote that the agency would act “with or without legislation” and remain within its statutory authority. CFTC Chair Michael Selig said his agency was ready to proceed with its planned crypto rules, according to a Read Entire Article
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