The Clarity Act stalled. Bankers aren’t hitting the brakes yet on crypto dealmaking
The failure of the Clarity Act in the U.S. Senate has created regulatory uncertainty for the crypto industry, but experts suggest it will not halt dealmaking. Bankers indicate that M&A activity will continue in sectors with existing regulatory clarity, while more complex areas may face delays.
Why it matters
This highlights how legislative gridlock impacts financial markets and corporate strategy within the emerging digital asset sector.
The crypto industry had waited years for Congress to deliver what it has long wanted: a lasting U.S. rulebook for digital assets that would clarify which digital assets fall under the oversight of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
That would've provided greater certainty for businesses and investors in the crypto industry than relying largely on regulators whose policies can change between administrations.
Then those hopes suffered a setback on Sept. 15.
The Clarity Act bill failed a procedural vote in the Senate , drawing 49 votes in favor and 50 against, short of the 60 needed to advance. Negotiations had foundered over ethics restrictions on senior officials’ crypto business interests, including President Donald Trump’s, alongside concerns about investor protection and illicit finance.
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