SEC, CFTC Ready Crypto Rules as Clarity Act Stalls in Senate

The significance here is jurisdictional: with the Clarity Act stalled, the SEC and CFTC are positioning themselves as the de facto source of crypto market structure rather than waiting on Congress. That shifts the near-term rulemaking arena from the Senate to the agencies, where both chairs are signalling urgency. What matters next is whether those rules arrive as coordinated or competing frameworks, and whether legislative efforts resume once agency action sets the baseline.