Clarity Act Failure Could Speed Up SEC and CFTC Crypto Rules, Bernstein SaysEnglish 日本語한국어ไทย繁體中文PortuguêsItalianoDeutschFrançaisEspañolThe Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) could keep reshaping U.S. crypto asset regulation even if the Clarity Act fails to clear the Senate before the August recess, according to a Bernstein research note published Monday, which The Block reported. Both agencies are already building a more coordinated framework through Project Crypto, and Bernstein expects that work to continue regardless of whether the legislation advances. Project Crypto Expected to Remain The Primary Regulatory VehicleProject Crypto is likely to stay the central platform for SEC and CFTC coordination if the Clarity Act stalls, Bernstein said. It was followed in May by an effort in which Selig backed rules to exempt non-custodial crypto software developers from broker registration. Introduced by Representatives French Hill and Glenn Thompson in May 2025, the Clarity Act passed the House 294-134 before stalling in the Senate, with debate over its 2026 outlook intensifying since.