[U.S. Senate Fails to Advance Clarity Act, Crypto Regulation Shifts to Federal Agencies] Odaily Planet Daily News: Last week, the U.S. Senate failed to advance the Clarity Act in a procedural vote of 49 in favor and 50 against, falling short of the required 60-vote threshold. Negotiations over the market structure bill stalled due to ethical provisions related to Trump's crypto business. Subsequently, the U.S. Securities and Exchange Commission (SEC) introduced a digital asset 'innovation exemption,' allowing eligible platforms to trade tokenized U.S. stocks on-chain without registering as national securities exchanges. The U.S. Commodity Futures Trading Commission (CFTC) issued a no-action stance for passive software providers and submitted broader crypto market rulemaking proposals for White House review. The Federal Reserve proposed requiring stablecoin issuers under its supervision to fully back tokens with safe, liquid assets and hold capital to address operational risks. The Office of the Comptroller of the Currency (OCC) is advancing stablecoin rulemaking, aiming to finalize related regulations by November. (Decrypt)