The clear bill comes to an end, and the SEC and CFTC will quickly make up for it

According to Woofun AI, the “Digital Asset Market Clarity Act” failed to pass a final vote in the US Senate on Tuesday, and Bernstein immediately predicted that the US Securities and Exchange Commission and the US Commodity Futures Trading Commission would “quickly and actively” introduce regulations. The blocking of this legislation directly triggered a shift in regulatory expectations, and inter-agency action replaced congressional legislation as the focus of the industry.

On Wednesday, Bernstein submitted a report to Cointelegraph stating that the regulator aims to 'make up for lost time due to negotiations on the Clarity Act'. The new regulations are expected to cover token classification standards, decentralized finance developer protection measures, and self-custody agreement provisions, and include equity tokenization innovation exemptions, a faster licensing process for real-world asset perpetual contracts, and regulatory revisions for federal sports betting contracts as exchange tools. The bill was intended to establish the first regulatory system for digital assets in the US and “protect the industry from changes in the political situation,” but due to time constraints and disputes over ethical provisions, Bernstein believes it is unlikely to be submitted to a vote again.

According to Woofun AI, the SEC's early actions are already evident: the rules proposed on August 19 aim to establish a 'clear and appropriate regulatory framework' to protect investors' rights and interests, allow cryptocurrency companies to issue tokens worth up to $5 million within four years, or tokens worth up to $75 million within 12 months, and provide exemptions that are not considered 'investment contracts'.

On July 27, SEC Chairman Paul Atkins made it clear in an interview with CNBC that if the Senate fails to pass the Clarity Act, the committee is “ready and capable” to introduce corresponding regulations on digital assets. As the path to legislation is blocked, administrative and regulatory forces are rapidly filling gaps, and the focus of industry compliance will shift from anticipating congressional legislation to adapting to the immediate rules of the SEC and CFTC.