The CLARITY Act failed to advance in the US Senate after a cloture vote, leaving the crypto industry facing continued regulatory uncertainty. Industry leaders are now turning to the SEC under Chair Paul Atkins and the CFTC under Chair Selig for clearer rules with or without legislative support. Polymarket odds of the act being signed into law in 2026 dropped to 5%, the lowest probability since the market opened in January. Executives remain divided over whether Congress can pass the legislation before the term ends in January, with some suggesting the next Congress is likely to be the next opportunity to address crypto market structure.
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