Six months ago, the crypto industry believed the 2026 legislative calendar would give it a policy sweep across both stablecoins and digital asset markets. It was only last July that the GENIUS Act regulating stablecoins, the first tangible piece of successful crypto policy in the U.S., was signed into law.
Crypto players, then, could’ve been forgiven for holding out that the GENIUS Act’s sister piece of legislation, the CLARITY Act, would pass hot on its heels, particularly given the momentum behind it this spring.
But with the Senate now in recess until July 13, and comprehensive market structure legislation still stalled, the digital asset industry’s largest institutions find themselves in an unusual position. Banks are…
