Bernstein is calling for the SEC and CFTC to ramp up rulemaking after the CLARITY Act failed to clear the cloture vote on Tuesday. The firm believes federal agencies will push out new regulations to make up for the time lost during drawn-out legislative talks.

What This Means for the Market

The regulatory spotlight is shifting—expect more rules to come straight from the agencies themselves, rather than waiting for Congress to act. That means the pace of crypto regulation in the U.S. could pick up fast.

The Big Unknown

Bernstein's outlook leaves a lot of open questions: there’s no timeline or specifics yet on what the SEC and CFTC might actually roll out. The only sure thing is that Tuesday’s failed attempt to end debate on the CLARITY Act has Bernstein predicting a more aggressive push from regulators.

What’s Next

Traders and projects alike will be watching for official documents or proposals from the SEC and CFTC. We’ll only know the real impact—and which areas will be targeted—once the agencies drop their draft rules.