Senate Parks CLARITY Act, Extending Crypto's Regulatory Gray Zone

The Senate shelved the CLARITY Act (H.R.3633) for Russia-related legislation, CoinDesk reported July 27, 2026. The bill — which would hand the CFTC primary crypto oversight and define "sufficient decentralization" — cleared the Banking Committee 15-9 on May 14. With the bill stalled, the SEC and CFTC keep claiming overlapping authority, leaving crypto platforms and stablecoin issuers without clear rules.