In response to the rejection of the Clarity Act in the U.S. Senate, analysts from the U.S. asset management firm Bernstein expressed in a client note that the leadership in future regulatory formulation will shift to the U.S. SEC and CFTC. This was reported by multiple media outlets.
Gautam Chhugani, who leads the analyst team at Bernstein, and others anticipate that the SEC and CFTC will focus on formulating specific individual rules, filling the time spent on legislative negotiations...