Just how dead is the crypto agenda?

Tuesday marked a low pointfor the crypto industry’s time in Washington. Thecollapse of the Clarity Actwill be felt for a long time.

The Senate rejected legislationthat would reshape the U.S. financial system for the sake of digital assets. The Clarity Actran into a buzzsawof bipartisan resistance — partly thanks to thecrypto entanglementsof PresidentDonald Trump.

But is thisthe last you’ll hear about crypto anytime soon? No, not by a long shot.

The Trump administrationstill has time to give the digital assets industry much of the regulatory clarity advocates have been seeking. Leaders of the Securities and Exchange Commission and the Commodity Futures Trading Commission say they’re prepared to issue rulemakings tolegitimize crypto.

But rules and regulationsdon’t have the staying power of legislation, and a potential Democratic administration could wipe out those gains quickly.

Happy talk.Few senators are willing to say the Clarity Act is fully dead for the 119th Congress.

“I think you’re going tosee this bill come back up again in the lame duck,” Sen.John Kennedy(R-La.) said. “An awful lot of work went into this, in good faith, by both sides.”