Failed Clarity Act Casts Doubts Around U.S. Digital Asset Market Structure — Market Talk

The Clarity Act on digital assets which didn't secure a procedural Senate vote, leaving questions around U.S. digital asset market structure and regulatory jurisdiction unresolved, says Samson Leo, co-founder and chief legal officer at StraitsX in a commentary. Agency rulemaking can continue providing guidance, but legislation offers a more durable foundation for institutions making long-term decisions. The decision also points to larger challenges ahead. Digital assets and stablecoins operate across borders, but their regulatory frameworks are being developed by jurisdictions. "The longer major markets operate without clear and compatible frameworks, the harder it becomes to address fragmentation and build genuinely interoperable cross-border financial infrastructure," Leo says.([email protected])