Grayscale Sees US Crypto Policy Maturing Despite CLARITY Setback

Grayscale highlighted continued regulatory progress in the United States after the Senate failed to invoke cloture on the motion to proceed with the Digital Asset Market Clarity Act (CLARITY Act) on September 15, 2026.

Senate Vote Halts CLARITY Debate

The Senate voted against the 60‑vote cloture threshold needed to move the CLARITY Act to formal consideration. The procedural vote did not address the bill’s final passage, only whether it would be debated on the floor.

Final Draft Contained 126 Revisions

Republicans released a revised version of the bill on September 14, incorporating 126 changes that they said responded to Democratic requests. The revisions covered token classifications, issuer disclosures, oversight by the SEC and CFTC, decentralized finance, bank protections, developer safeguards, consumer enforcement, and federal ethics restrictions.

Grayscale’s Response

In a statement posted on X, Grayscale acknowledged the vote as “not the outcome we hoped for” but emphasized that the industry continues to make “remarkable progress” through ongoing work at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The firm reaffirmed its commitment to advancing clear, comprehensive digital‑asset rules and pledged to work constructively with policymakers and regulators.

Regulatory Work Outside Congress

Grayscale pointed to the separate path of rulemaking by the SEC and CFTC as a means for U.S. crypto policy to mature even while congressional action stalls. While legislation could establish a broader statutory framework, the agencies continue developing rules within their existing authorities.

Industry Reactions

Ripple CEO Brad Garlinghouse supported Treasury Secretary Scott Bessent’s advocacy for the CLARITY Act, arguing that the bill would provide tools to address risks involving community banks and stablecoins.

The cloture vote’s failure means the CLARITY Act will not move to formal Senate debate at this time, but federal regulatory activity on digital assets is expected to continue.