SEC, CFTC Chairs Say They Will Write Crypto Rules Without CLARITY Act

The two agencies signaling they will regulate crypto through their own rulemaking rather than waiting on Congress shifts the practical locus of crypto policy from legislation to agency procedure, where public comment, legal challenge and reversals between administrations become the operative risks. That matters most for token issuers and trading venues weighing where and how to register, since agency rules can move faster than a bill but are also easier to unwind. Whether the SEC and CFTC stay aligned on overlapping jurisdiction, and whether courts accept their statutory footing, is the open question.