The CLARITY Act Failed. What Happens to Crypto Now?

Regulators are advancing crypto tokenization via SEC/CFTC action even though the CLARITY Act failed in Congress.

• CLARITY Act stalls: The Senate failed to advance the crypto market-structure bill despite prior House bipartisan support, with Sen. Tillis's 'no' vote preserving a path to revive it later.
• Stablecoin yield fight: Rentmeester says banks fear deposit flight if stablecoins can pay interest competitive with bank rates, calling this a core reason legislation stalled.

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