The U.S. Securities and Exchange Commission (SEC) has announced its readiness to establish regulatory rules for cryptocurrencies should Congress fail to pass the Clarity Act. This bill, officially called the Digital Asset Market Clarity Act of 2025, aims to delineate regulatory responsibilities between the SEC and the Commodity Futures Trading Commission (CFTC). While the House passed it in July 2025 and the Senate Banking Committee advanced it in May 2026, it has not yet been signed into law. Market odds for the Clarity Act being signed into law in 2026 have dropped from 38% to 30.5%, reflecting growing skepticism about its prospects. Market participants are now watching for next moves in the Senate, particularly positions from Senate Majority Leader Chuck Schumer and Senate Banking Committee Chairman Tim Scott.
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