REGULATION · US
US Senate crypto advocates push CLARITY Act passage before August 7 deadline
CFTC Chair Michael Selig stated July 8 that passage of the Commodity Futures Trading Commission and Responsible Liquidity Innovation for the Real Economy (CLARITY) Act is imminent. The bill aims to establish federal crypto asset classification standards, replacing fragmented state and agency rules.
WHY IT MATTERS
Unified federal framework would simplify compliance for BFSI crypto operations. Current patchwork across SEC, CFTC, OCC, and state regulators creates operational friction. Passage would signal institutional crypto readiness.
Source: PYMNTS · 2026-07-08