The long-awaited crypto Clarity Act has stalled, with a vote now pushed to September. However, federal regulators are preparing to step in and advance crypto rules independently, according to multiple reports.

The Clarity Act is part of a broader legislative effort to establish a clear regulatory framework for digital assets, defining the jurisdictional boundary between the SEC and the CFTC over which tokens count as securities versus commodities—a distinction the crypto industry has long argued is essential for operating with confidence in the United States.

Bloomberg reported Tuesday that the Securities and Exchange Commission (SEC) is preparing to unveil initiatives this week aimed at supporting the crypto industry. The SEC announced it will hold an open meeting on Friday "to create a tailored offering regime for certain investment contracts involving crypto assets."

JUST IN: SEC to unveil 'major crypto plans' as Clarity Act stalls — Bloomberg

https://x.com/BitcoinMagazine/status/2087265665870712922

Additionally, JD Supra reported Tuesday that Commodity Futures Trading Commission (CFTC) Chairman Michael Selig is prepared to move forward with "rulemaking whether or not the Clarity Act is enacted, with the goal of finalizing rules before the end of the current administration." That approach could provide the industry with a faster path to regulatory certainty than waiting for Congress, though agency-level rules may face different legal durability than statutes passed into law.

The regulatory push comes as the Clarity Act remains stalled in Congress. Pro-crypto lawmakers had hoped the bill would pass before Congress departed for its August recess. Following a delay, the vote is now scheduled for September.

Lawmakers began reviewing a new draft of the bill in July. The legislation was originally passed by the House of Representatives last year. The updated text addressed ethics concerns, including provisions banning government officials from promoting or profiting from crypto assets.

However, Democrats continued to voice objections, with some deliberately holding the bill back, according to Republicans including Senator Cynthia Lummis.

Both the SEC and CFTC have adopted a markedly more crypto-friendly posture since President Trump took office. Under former SEC Chair Gary Gensler, who served during the Biden administration, the regulator pursued enforcement actions against major crypto firms such as Coinbase and Kraken. Under the current Republican administration, regulators have dropped several high-profile lawsuits against crypto companies.

President Trump campaigned on a pledge to make the United States the digital asset capital of the world and has signed pro-crypto legislation since taking office. For the crypto industry, the combination of agency-level rulemaking and potential legislative action represents a shift from the enforcement-driven approach of prior years toward a more collaborative framework—though the outcome of both tracks will shape how digital asset businesses operate in the U.S. for years to come.

This article was originally published by Bitcoin Magazine and written by Mathew Di Salvo.