The CLARITY Act remains stalled as the Republican-controlled Congress enters its final weeks before Democrats take control in January. Financial regulator nominations are among the few crypto-related decisions lawmakers may complete before then.
The CLARITY Act is still stalled in the final weeks of the Republican-controlled Congress, which leaves nominations for financial regulators among the few crypto-related decisions lawmakers may finish before January. Industry leaders expect little movement on a broader market structure law.
Lummis blames Democrats as the clock runs down
Senator Cynthia Lummis said in a November 15 post that Democrats demanded a mandatory SEC registration process requiring crypto projects to certify their offerings before selling them to the public. She added that they voted against the measure containing that provision.
The dispute follows the November 3 midterm elections, when Democrats won control of both chambers. Republicans keep their majorities until the new Congress begins January 3, 2027.
On September 15, senators voted 49–50 on ending debate, short of the 60 votes needed. Cody Carbone, CEO of the Digital Chamber, saw little hope of substantive progress before lawmakers adjourn.
Trump nominates four SEC and CFTC commissioners
On November 12, President Donald Trump nominated four commissioners, a Republican and a Democrat for each of the SEC and the Commodity Futures Trading Commission. The SEC nominees are Steven Levine and former CFTC Commissioner Kristin Johnson, while the CFTC selections are Nathan Anonick and Matthew Rowland.
The Senate Banking Committee has scheduled a hearing for Johnson and Levine on November 19 at 10 a.m. Eastern. The Agriculture Committee has not announced a hearing date for the two CFTC nominees, and both panels must act before the full Senate can confirm anyone.
Kristin Smith, interim CEO of the Blockchain Association, described the lame-duck period as having a "short calendar and a long to-do list."
Narrower deals and a data-center bill
Industry groups have identified possible agreements on crypto taxation, stablecoin yields and illicit-finance safeguards. Ryan Eagan of the Crypto Council for Innovation said a last-minute attachment to legislation Congress must pass remained possible, although no such agreement had been announced.
Bitcoin miners face a separate decision. On November 9, the Senate voted 73–25 to begin considering the bipartisan American Affordability and Jobs Act, which seeks to speed up federal permitting for energy projects and data centers. Carbone said some miners supported faster permitting, while others objected to potentially higher costs for new grid infrastructure.
Source: crypto.news
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