Saylor says SEC, CFTC and Treasury can advance Bitcoin rules without Congress

Michael Saylor said US crypto markets can continue developing even as the CLARITY Act remains stalled. He expects the SEC, CFTC and Treasury to pursue regulatory measures under existing law, alongside an expansion of bank services involving Bitcoin custody and lending against the crypto asset.

Saylor said he also expects greater capital allocation toward Bitcoin and digital credit, while the GENIUS Act provides support for stablecoin adoption. He said progress across these areas does not have to wait for Congress to pass additional legislation.

On September 15, 2026, the Senate held a cloture vote on the CLARITY Act. It failed 49–50, well short of the 60-vote threshold required to advance the legislation.

The bill, formally known as the Digital Asset Market Clarity Act (H.R. 3633), was designed to draw clear jurisdictional lines between the SEC and CFTC over digital assets. The CFTC would oversee digital commodities like Bitcoin, while the SEC would retain authority over tokens which function more like investment contracts.

The House passed the bill with bipartisan support on July 17, 2025. The Senate Banking Committee advanced it in mid-May 2026. But negotiations over stablecoin provisions and ethics requirements ground the process to a halt, and the final vote reflected a chamber that couldn't agree on the fine print.