Overview
- Democrats won majorities in the House and Senate on Tuesday, Nov. 3, 2026, a shift that makes the industry-backed CLARITY Act unlikely to pass in its current form.
- The CLARITY Act failed a Senate cloture vote on Sept. 15, 2026, when supporters fell short 49–50 and Senator Thom Tillis entered a motion to reconsider that leaves only a narrow lame-duck path.
- House Democrats are discussing a new market-structure bill built around Rep. Maxine Waters’ investor-protection amendments that would require custody safeguards, faster withdrawals and monthly proof-of-reserves while expanding SEC supervision.
- Incoming committee leaders plan focused oversight of crypto business ties to President Donald Trump and his family, including inquiries into World Liberty Financial, the USD1 stablecoin links and the TRUMP memecoin.
- Federal agencies will press on: the SEC and CFTC are independently advancing rulemaking on fundraising, custody and retail crypto trading, so regulatory change will continue even as Congress rewrites its legislative priorities.