By Dorothy DeWitt, founder and CEO of Tölt Strategies and Renato Mariotti, partner at Paul Hastings

The Senate’s failure to advance the CLARITY Act has put a major congressional effort to establish a comprehensive U.S. digital asset market structure framework on hold. On September 15, the Senate voted 49-50 against invoking cloture on the motion to proceed, leaving the legislation stalled for the time being. 

That does not mean the regulatory agenda has stopped. The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) were already moving on digital asset regulation before the vote. On October 5, the CFTC issued its Advance Notice of Proposed Rulemaking (ANPRM) titled “Regulation Crypto…