White House Says It Can’t Wait for CLARITY Act, Turns to SEC and CFTC for Crypto Rules Overhaul - bloomingbit

The White House has signaled it will not wait for the CLARITY Act to move through Congress, instead directing the SEC and CFTC to pursue a crypto rules overhaul through their own regulatory channels. The shift matters because it changes the venue for US crypto policy: rather than a single legislative framework, rulemaking would come from two agencies with distinct mandates and priorities.

For markets, the practical effect is that the pace and shape of US crypto oversight may now depend more on agency processes than on congressional timing. The SEC has historically focused on securities-law questions, while the CFTC oversees derivatives and commodities markets. How they divide jurisdiction over tokens, exchanges, and trading venues is the central question to watch.

Key things to monitor include formal rule proposals, public comment periods, and any joint guidance from the two agencies. The CLARITY Act remains relevant as a potential legislative backstop, but it is no longer the only path forward.