'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 even as the Clarity Act remains stalled in the Senate, according to The Block. The shift suggests the two agencies may rely on their existing authorities to shape oversight rather than waiting for Congress to pass a comprehensive market structure framework.

For markets, the key issue is jurisdiction. Questions over which tokens are securities and which are commodities have long shaped listing, trading, and compliance decisions in the U.S. Agency-led rulemaking could bring more specificity, but it may also face legal challenges and could be revisited if legislative efforts resume.

What to watch: the scope and timing of any proposals, how the SEC and CFTC divide oversight, and whether the Senate revives the Clarity Act. For now, the practical takeaway is that U.S. crypto oversight may move forward through regulators rather than legislation, leaving room for both clarity and uncertainty.