Bernstein: SEC and CFTC may accelerate crypto rulemaking following CLARITY Act setback

Bernstein analysts suggest that after the CLARITY Act failed a procedural vote in the Senate, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are expected to aggressively pursue digital asset rulemaking. The proposed rules may address token classification for fundraising, protections for DeFi and self-custody developers, exemptions for tokenized stocks, and expedited approvals for real-world asset perpetual futures. Analysts believe the CLARITY Act is unlikely to be revisited due to limited legislative time and controversy over ethical clauses. SEC Chair Paul Atkins has previously indicated that the agency is prepared to establish its own digital asset framework if Congress fails to pass the legislation.