Clarity Act Fails in Senate, Shifting Crypto Oversight to SEC and CFTC

The bill's failure leaves the two agencies to define the rules through enforcement and rulemaking, an outcome that may prove more fragmented and less predictable than a statutory framework. That matters most for projects seeking a clear compliance path, since agency-by-agency positions can shift with leadership and litigation. Whether the SEC and CFTC coordinate or diverge is now the central question for anyone planning around U.S. oversight.