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The U.S. House Ways and Means Committee passed the Digital Asset Tax Certainty Act by a vote of 38-5, establishing a $10 de minimis threshold for reporting small cryptocurrency transactions and clarifying tax rules for activities such as mining and staking. This development comes shortly after the collapse of the Senate market structure bill just a few days ago.
According to Cointelegraph, the U.S. Senate failed to advance a procedural vote on the Digital Asset Market Clarity Act (CLARITY Act) on Tuesday. Bernstein analysts anticipate that the SEC and CFTC will subsequently embark on "proactive and swift" rulemaking to compensate for the time lost during prior negotiations. The forthcoming regulations are expected to cover: classification criteria for token offerings, developer protections for DeFi and self-custody protocols, innovation exemptions for equity tokenization, an expedited approval pathway for physical asset perpetual futures, and swap designation rules for federal sports event contracts. Bernstein pointed out that the CLARITY Act was originally intended to provide the industry with institutional safeguards against "shifts in political winds," and its defeat has once again cast doubt on regulatory certainty. Analysts also noted that the likelihood of a reconsidered vote on the bill remains low.
Bernstein analysts said that after the U.S. Senate failed to pass the procedural vote on the Digital Asset Market Clarity Act, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are expected to accelerate the development of digital asset regulatory rules.The analysts expect the new rules to cover the classification of fundraising tokens, protections for DeFi and self-custody protocol developers, innovation exemptions for equity tokenization, approval of real-world asset perpetual futures, and adjustments to swap classification rules for federal sports event contracts. (Cointelegraph)
The U.S. Senate failed to pass the Digital Asset Market Clarity Act, receiving only 49 votes in support. The bill was primarily stalled due to disagreements between the two parties over ethical restrictions on President Trump's crypto holdings. Republicans accused Democrats of refusing to compromise, and negotiations ultimately broke down.
The U.S. Senate failed to advance the Digital Asset Market Clarity Act on a 49-50 vote, causing crypto stocks such as Coinbase and Circle to collectively fall more than 8% that day. The legislative setback has temporarily stalled the industry's long-awaited federal market structure framework.
The U.S. Senate failed to advance the Digital Asset Market Clarity Act due to insufficient votes. Hampered by internal disputes over provisions and opposition from state attorneys general, the bill is expected to stall this year.
The Digital Asset Market Clarity Act made no progress during Tuesday's Senate vote, failing to secure the required 60 votes. Despite months of bipartisan negotiating, it ultimately failed due to unresolved core differences, including those over ethical provisions.
Odaily reports: Jason Smith, Chairman of the U.S. House Ways and Means Committee, has unveiled the 114-page "Digital Asset Tax Certainty Act" (H.R. 10357), which proposes exempting taxes on network or transaction fees below $10, with a committee markup scheduled for 10 a.m. on September 16.The bill stipulates that users who conducted more than 5,000 transfers in the previous year would not be eligible for the aforementioned fee exemption. A companion bill aims to bring digital assets under wash sale rules and constructive sale rules, while excluding qualified U.S. dollar stablecoins, and is projected to raise $2.074 billion in revenue for fiscal years 2026 through 2036.The companion bill would also allow miners and stakers to defer income from newly generated tokens until the time of sale, with an estimated ten-year fiscal cost of $2.956 billion. Republican committee members are considering removing the relevant provisions or limiting the deferral period to five years. (Bitcoin.com News)
According to Chaoxiang research, Bernstein's September 14, 2026 report indicates that the Kalshi prediction market has rebounded to a greater than 30% probability for the passage of the CLARITY Act. The CLARITY Act, officially the Digital Asset Market Clarity Act, centers on establishing a federal regulatory framework for the U.S. cryptocurrency market, delineating regulatory boundaries between the SEC and CFTC, and clarifying exchange compliance requirements and stablecoin yield rules. The latest Senate Republican draft has made substantive concessions on Trump-related ethics provisions and incorporates a "new circuit breaker" clause to address concerns over deposit outflows from community banks. A procedural vote is scheduled for Tuesday, with the Federal Reserve set to announce its interest rate decision on Wednesday.
Odaily News: The UK House of Lords passed an amendment by a vote of 194 to 138, requiring the Treasury to formulate, publish, and consult on a national digital asset strategy within 12 months after the Financial Services and Markets Act takes effect.The strategy must cover crypto assets, qualifying stablecoins, central bank digital currencies, tokenized securities, and other digital financial assets, and review the availability of banking, payment, and settlement services, as well as the risks to competition and innovation posed by the withdrawal of related services.The bill still needs to undergo a third reading in the House of Lords on September 15, and will then be submitted to the House of Commons for consideration. The UK Financial Conduct Authority (FCA) completed the formulation of rules and guidance for the new crypto asset regulatory regime on June 30. The authorization application channel is planned to open on September 30, 2026, and the regime will take effect on October 25, 2027. (Bitcoin.com News)
According to CoinDesk, the Senate is set to vote on the Digital Asset Market Clarity Act (CLARITY), with analysts predicting that even if the bill fails, Wall Street's expansion in crypto business related to tokenization and ETFs has already become irreversible.
Odaily News: Miles Jennings, Head of Policy and Regulation at a16zcrypto, wrote that the U.S. Senate should push for the passage of the Digital Asset Market CLARITY Act. Jennings stated that the risks exposed by the FTX collapse—such as customer asset segregation, custody, and information disclosure—are not complex, yet the existing digital asset market still lacks regulatory safeguards similar to those in traditional financial markets. The CLARITY Act would require digital asset brokers, dealers, and exchanges to implement measures such as customer asset segregation, qualified custody, information disclosure, and insider trading restrictions, while also clarifying the regulatory boundaries between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).Miles Jennings warned that with stablecoin supply now exceeding $300 billion and the market value of tokenized assets surpassing $30 billion, if the Senate fails to act this time, the impact of the next market collapse could be greater than that of the FTX incident.
According to the official website of the New York State Attorney General’s Office, New York Attorney General Letitia James, joining attorneys general from 17 states including Arizona and California as well as the District of Columbia, formally opposed the Digital Asset Market Clarity Act (Clarity Act) in a September 14 letter to Senate Banking Committee Chairman Tim Scott and Ranking Member Elizabeth Warren. The coalition warned that the bill would undermine states’ law enforcement authority to combat cryptocurrency fraud, grant the SEC unilateral power superseding state registration authorities, and potentially destabilize the existing state securities regulatory framework. FBI data shows that losses from cryptocurrency-related complaints reached $11.4 billion in 2025, a 22% year-over-year increase; New York reported nearly $500 million in crypto fraud losses over the past five years. The attorneys general urged Congress to amend the legislation to explicitly preserve states’ law enforcement and registration regulatory authority over digital assets, and to strengthen law enforcement cooperation mechanisms between federal and state governments.
Odaily News: South Korea's digital asset institutionalization process this week once again focused on two major directions: legislation and infrastructure development. According to South Korean Democratic Party lawmaker Min Byeong-deok (민병덕), speaking at a seminar, the "Digital Asset Basic Act" will be pushed for enactment within the year, with a public hearing planned for this month, and formal legislative review to commence in November after the completion of the parliamentary audit. However, considering that the National Assembly will still conduct parliamentary audits and budget reviews and other procedures, the legislative timeline may also be delayed to the first half of next year. In addition, South Korea's Financial Services Commission has announced a phased implementation roadmap for security tokens (STO), and financial institutions are also advancing tokenization system testing and global infrastructure cooperation. South Korea's digital asset regulation is gradually shifting from institutional discussion to the implementation preparation stage. (MK)
According to Forbes, Patrick Witt, Executive Director of the White House Digital Asset Advisory Committee, stated that the legislative window for the U.S. Crypto Market Structure Bill, the Clarity Act, is narrowing. If the procedural vote this week fails, there will be significant uncertainty regarding when the bill can advance again. The bill is currently scheduled for a procedural vote on September 15.
Odaily News – The Blockchain Association and the Innovative Crypto Council (CCI) have filed a motion for a preliminary injunction with the Circuit Court of Sangamon County, Illinois, seeking to halt the 0.2% digital asset franchise transaction tax scheduled to take effect on January 1, 2027, during the pendency of litigation. The tax applies to crypto entities established in Illinois or providing services to Illinois residents with annual gross revenues exceeding $100,000. The two lobbying groups had previously sued Illinois over the measure and, together with the Chamber of Digital Commerce, argue that the law violates the federal Internet Tax Freedom Act as well as the Due Process and Interstate Commerce clauses of the U.S. Constitution.
According to CoinDesk, U.S. Bank, the fifth-largest commercial bank in the United States, announced that it has completed a cross-border real-time payment using its self-developed US dollar stablecoin, USBDC. The transaction was executed between entities in North America and Europe via the Stellar blockchain. This test covered USBDC’s minting, redemption, freezing, and recall functions, while also verifying the compatibility of the bank's internally developed Digital Asset Platform with its financial, compliance, and risk control systems. U.S. Bank stated that it is exploring the application of USBDC in scenarios such as cross-border financial operations, liquidity management, and collateral transfers, though it has not yet disclosed a timeline for customer rollout. Previously, 21 financial institutions including Bank of America, Citigroup, and Goldman Sachs announced plans to jointly issue a stablecoin, while several European banks have formed the Qivalis alliance to issue a euro stablecoin, indicating an increasingly clear trend of banks entering the stablecoin sector.
Odaily News: At a hearing of the U.S. House Financial Services Committee, Circle President and former CFTC Chair Heath Tarbert stated that the GENIUS Act has established a federal regulatory framework for payment stablecoins, effectively building a "dollar layer" for the Internet financial system. He urged Congress to next pass the CLARITY Act to complete the long-term regulatory framework for the digital asset "market layer." Additionally, Tarbert called for the final implementation rules of the GENIUS Act to close regulatory arbitrage loopholes for offshore stablecoins, requiring intermediaries that actually serve U.S. customers to be subject to corresponding restrictions, and ensuring that foreign stablecoin issuers meet truly comparable regulatory standards.
Odaily News: The Financial Services Commission of Korea stated that it will operate the digital asset TF (Task Force) until 2028 to prepare for the enactment and implementation of the Digital Asset Basic Act, including advancing preparations for subordinate legislation and building the digital asset ecosystem infrastructure.The Financial Services Commission of Korea noted that the existing digital asset regulatory framework has primarily focused on cracking down on illegal activities and preventing investor losses, with insufficient institutional development in areas such as business conduct, information disclosure, and asset issuance and circulation at the industrial and market levels. The Commission plans to determine the main contents of the Digital Asset Basic Act within 2026 through consultations with the Virtual Asset Committee and deliberations between political parties and the government, and to promote the establishment of a more comprehensive regulatory system.Korea is advancing the construction of a digital asset-related ecosystem and is expected to improve infrastructure through institutions such as associations. The legislation related to the institutionalization of security tokens (ST) passed the National Assembly review in January 2026 and is expected to take effect in February 2027. The Financial Services Commission will continue to refine the relevant subordinate regulations and supporting systems.
According to Digital Asset, South Korea's National Tax Service stated that it will introduce commercial blockchain tracking software used by domestic and international law enforcement agencies, including prosecutors, police, and the IRS, to track and analyze transfers between digital asset wallets in order to prevent tax loopholes arising from personal wallets. Meanwhile, regarding tax oversight of overseas exchanges, South Korea will address this through the Crypto-Asset Reporting Framework (CARF). Taking effect in 2028, CARF will cover transaction information from 2027, aligning with the timeline of the domestic digital asset income tax, which will be levied starting in 2027 with declarations due in May 2028, thereby achieving effective tax coverage of overseas holdings.