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Galaxy Says Crypto Can Move On as CLARITY Act Stalls in Senate
Galaxy Research says the Digital Asset Market CLARITY Act is effectively finished for this period after the Senate failed to advance it (49-50), with odds of passage now very low and revival before the October recess unlikely. Meanwhile, regulatory activity continues (CFTC no-action relief for front-end DeFi developers and an SEC tokenized-stock innovation exemption), and the focus shifts to agencies as broader policy moves require Congress, likely limiting passage in a future Congress regardless of party control.
Key Highlights - Galaxy said efforts to revive the legislation before the October recess are possible but assessed the prospects as very low. - Galaxy pointed to recent CFTC no-action relief for certain front-end DeFi developers and the SEC’s tokenized-stock innovation exemption as examples of regulatory activity continuing without the bill. - The research firm said the focus now shifts primarily toward regulatory agencies, while noting that some policy changes can only be made through Congress. Galaxy Research said the Digital Asset Market CLARITY Act is effectively finished for the current period, while assessing that the cryptocurrency sector will continue to operate without it after the U.S. Senate failed to advance the bill on Tuesday in a 49-50 vote. According to a Galaxy Research analysis by researcher Alex Thorn published after the vote, the research firm described the outcome as disappointing but not unexpected. > The Clarity Act collapses in the Senate 49-50, the SEC unveils a 5-year tokenized stocks exemption, and Anthropic's Dario Amodei sparks an AI industry fight over slowing down frontier development. > > Full breakdown below. https://t.co/44ag8uQK3L > > — Galaxy Research (@glxyresearch) September 18, 2026 ## What Galaxy Research’s assessment says Galaxy Research said it had tracked the bill’s prospects over several months. The firm reduced its estimated odds of passage to as low as 10% after the Senate left for August recess without a vote. On the Monday before Tuesday’s vote, after Republicans released a revised draft containing additional co…
the newsroom’s read
The stalling of major crypto legislation paired with regulatory shifts creates an immediate narrative for crypto market participants.
Proof sheet
- name
- Clarity Act
- ticker
- $CLARITY
- description
- Galaxy Research reports that the Digital Asset Market Clarity Act has stalled in the Senate, shifting focus entirely to regulatory agencies, according to Cryptotimes.