Read this article on bsc.news Former Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo says US crypto can keep growing without the CLARITY Act, arguing that the SE
Former Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo says US crypto can keep growing without the CLARITY Act, arguing that the SEC and CFTC already have the authority to establish clearer rules for the industry.
His comments come after the market-structure bill stalled in the Senate. According to law firm DLA Piper, the Senate failed to advance the Digital Asset Market Clarity Act on September 15, 2026, which nearly eliminated the chance that such a bill will be enacted this year.
Giancarlo has compared crypto's path with that of the early internet. Benzinga reported that he pointed to the internet and artificial intelligence as technologies that developed without dedicated legislation authorizing their creation. Speaking to Cointelegraph at SALT London on November 10, he said the bill became too complicated as lawmakers tried to satisfy competing interests, and that he does not expect it to return anytime soon.
He has also said the SEC and CFTC can regulate crypto markets and support innovation under current powers. Crypto Briefing reported that he specifically called for using the CFTC's existing authority to establish rules for exchanges.
Giancarlo has not dismissed the bill's value. In an earlier interview covered by Benzinga, he said it had real merits, including reauthorizing LabCFTC, the innovation office he created at the CFTC, and providing clearer jurisdiction between the SEC and CFTC. His position is that legislation would help, but the industry does not have to wait for it.
The bill passed the House on July 17, 2025, by a vote of 294 to 134, according to FinTech Weekly's tracker. In the Senate, the procedural vote failed 49 to 50, short of the 60 votes needed to open debate. The same tracker describes the bill as stalled rather than formally dead.
As of the Senate's calendar for November 5, Align Labs reported that the bill remained on the calendar with no agreement to schedule another vote. Without a comprehensive statute, Crypto Briefing noted, the question of who regulates what remains partly open, and agency actions on stablecoins, token classification, exchanges and DeFi may carry more weight.
Giancarlo's view reflects a wider argument in the industry. Coinbase CEO Brian Armstrong said after the Senate vote that the industry can no longer wait on Congress.
Benzinga: No CLARITY Act, No Problem, 'Crypto Dad' Chris Giancarlo SaysDLA Piper: Senate Fails to Advance the CLARITY Act, Top PointsCrypto Briefing: Giancarlo Says US Crypto Can Thrive Without the Clarity Act
