Though executives and investors say legislation would lend certainty and help attract long-term capital, much of the industry has resigned itself to the likelihood that regulatory momentum may have to be built outside of Congress. The SEC, for example, has proposed allowing startups to sell as much as $75 million of tokens without registering, while the CFTC recently approved the first bitcoin perpetual futures in the U.S.
Source: Senate cloture vote on Clarity Act fails, dealing regulatory blow to crypto industry