[Bernstein Analysts Say Clarity Act Passage Unlikely, SEC and CFTC to Accelerate Rulemaking]
According to The Block, Bernstein analysts indicate that the probability of the U.S. Clarity Act passing by 2026 is decreasing. If the bill fails, the SEC and CFTC will accelerate rulemaking under the Project Crypto framework, covering token classification, DeFi, and self-custody regulatory details, while advancing areas such as tokenized real-world assets (RWA), perpetual contracts, and prediction markets. CFTC Chairman Michael Selig has warned that if Congress fails to act, regulatory agencies will be forced to take on all rulemaking responsibilities. Currently, Senators Thom Tillis and Ruben Gallego have submitted a revised ethical compromise proposal, with negotiations still ongoing.
