Clarity Act stalls as SEC, FASB, and OCC write crypto rules - Crypto News

The proposed Clarity Act, intended to give Congress a unified framework for digital assets, has stalled. In its place, the SEC, FASB, and OCC are each advancing their own rulemaking efforts. This shift means the path to regulatory clarity is no longer a single legislative act but a patchwork of agency-level decisions.

For market participants, the relevance lies in the fragmentation. The SEC focuses on whether tokens are securities, FASB is addressing accounting standards for crypto holdings, and the OCC is concerned with bank custody and capital treatment. Each rule set will affect a different part of the ecosystem, from issuance and reporting to institutional access.

What to watch now is the pace and scope of each agency's final rules, and whether their definitions align. If they diverge, compliance could become more complex. If they converge, the industry may finally get the practical clarity the stalled bill was meant to provide.