The CLARITY Act has only a 14% chance of passage according to Polymarket, with unresolved sticking points on ethics and stablecoin yield ahead of the September 15 Senate vote. Facing this uncertainty, the SEC and CFTC have accelerated their own regulatory initiatives: the SEC proposed $75M crypto funding via ICO, updated custody rules, and modified transfer agent rules to include blockchain and tokenized assets. The CFTC is notably exploring ways to onshore platforms like Hyperliquid on perpetual markets. Experts are hailing these initiatives that allow the sector to move forward without waiting for Congressional action.
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