'Go time': SEC, CFTC prepare to push crypto rules as Clarity Act stalls in Senate - The Block

The SEC and CFTC are reportedly preparing to advance crypto rulemaking as the Clarity Act remains stalled in the Senate, according to The Block. The shift matters because it signals that U.S. market regulators may move ahead on their own rather than waiting for Congress to pass comprehensive legislation defining how digital assets are classified and supervised.

For markets, the key issue is jurisdiction: which assets are securities, which are commodities, and which agency oversees trading venues, custody, and disclosures. Clearer agency-level rules could reduce some of the legal ambiguity that has weighed on U.S. crypto businesses, though they may also face legal challenges or be revised later. Legislative gaps can persist even when regulators act.

What to watch: the specific proposals the SEC and CFTC publish, their comment periods, and whether they align or conflict. Also watch for responses from Congress and industry, plus any court rulings that test the agencies' authority. Together, these will shape how quickly U.S. crypto oversight becomes more defined.