STOCKS | SEC and CFTC Open Narrower Crypto Market Access Routes After CLARITY Act Stalls

The SEC and CFTC opened two narrower routes for crypto-linked market access under existing law after the Senate failed to advance the CLARITY Act. According to NS3.AI, the SEC created a five-year path for permissioned venues to trade tokenized U.S. stocks, while the CFTC broadened no-action relief for qualifying software providers that connect users to regulated derivatives markets. Neither move settles agency jurisdiction or creates a permanent legislative framework.