According to Wu Blockchain, Coinbase CEO Brian Armstrong stated that the CLARITY Act failed to advance in the U.S. Senate on the same day. While bipartisan negotiations may continue, the industry can no longer wait for Congress. He believes the SEC and CFTC already have the authority to establish clearer crypto regulatory rules and expects both agencies to start pushing forward with related work. Armstrong also mentioned that the GENIUS Act has already established a legal framework for stablecoins, and some compromise provisions in the CLARITY Act were originally hard to accept, so the bill's setback might not be entirely a bad thing. https://(wublock123.com)/news/brian-armstrong-clarity-act-stalls-sec-cftc-rulemaking-crypto-68458