Congress is again considering the CLARITY Act, which would establish a more comprehensive federal market-structure framework for digital assets, including when tokens are treated as securities or commodities and how responsibilities are divided between the Securities and Exchange Commission and Commodity Futures Trading Commission. The Senate postponed a key procedural vote until September 15. Supporters argue that businesses need durable rules rather than regulation through enforcement, while opponents and skeptical lawmakers are pressing for stronger anti-money-laundering, ethics and banking safeguards before the legislation advances. Crypto is large enough that permanent rules make sense. The harder question is whether clarity without strong guardrails merely makes risky practices easier to scale.