US regulators rush to write crypto rulebook after Clarity Act stalls in Senate

After the Clarity Act failed a Senate procedural vote, the SEC and CFTC moved to expand crypto regulation under existing authority. The SEC created a temporary pathway for trading tokenized stocks, while the CFTC sent a crypto rulemaking proposal to the White House for review.

• Clarity Act failed a Senate procedural vote on Sept. 15
• SEC created a temporary pathway for tokenized stock trading
• CFTC sent crypto rulemaking proposal to White House review
• State attorneys general urged Senate to preserve their powers