Bernstein says failed CLARITY vote shifts crypto rulemaking to SEC, CFTC

Bernstein said the CLARITY Act’s failure to reach a Senate vote is likely to shift the center of U.S. crypto regulation from congressional legislation to rulemaking by the U.S. SEC and the U.S. Commodity Futures Trading Commission, The Block reported. Bernstein said further regulatory work is likely in tokenization, perpetual futures and prediction markets, adding that platforms such as Coinbase may continue offering rewards on idle stablecoin balances.