Bernstein expects ‘aggressive’ rulemaking from SEC, CFTC, following CLARITY Act failure

Bernstein analysts expect “aggressive and swift” rulemaking from the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), after the Digital Asset Market Clarity (CLARITY) Act failed to pass a Senate cloture vote on Tuesday.

Bernstein analysts said the regulatory agencies will publish new regulations to “make up for the time lost negotiating the CLARITY Act,” in a Wednesday note shared with Cointelegraph.

The analysts said they expect agency regulations including token taxonomy for raising capital, developer protection measures concerning decentralized finance and self-custodial protocols, innovation exemptions for equity tokenization, faster approval times for real-world asset perpetual futures, and amendments to rules around federal sports even contracts and their classification as swaps.

Bernstein said that these federal agencies will bring more regulatory clarity for the industry, to compensate for the failure of the CLARITY Act, which would have “fool-proofed the industry against political regime shifts.” 

On Tuesday, the US Senate failed to pass a cloture motion on the CLARITY Act, which would have established the country’s first regulatory framework for digital assets. Bernstein’s analysts said that a re-vote of the act was unlikely, citing a limited time window and concerns over the bill’s ethics provisions.