StalledUS
CLARITY Act (crypto market structure)
Senate cloture failed; stalled
The House passed the bill 294-134 in July 2025. A Senate cloture vote on Sept 15, 2026 failed 49-50, short of the 60 votes needed, after fights over ethics rules for officials and yield-bearing stablecoins. A motion to reconsider is still possible, but most observers now expect any revival to wait for the next Congress, while the SEC and CFTC move ahead on their own.
Next: Possible motion to reconsider in the post-midterm lame duck (Nov to Dec 2026)
Sources: Orrick, Oct 2 2026 · CNBC, Sept 15 2026
In progressUS
GENIUS Act stablecoin rules
Law in force; rules proposed, finals pending
The stablecoin law was signed in July 2025, but agencies missed the July 18, 2026 rulemaking deadline. The OCC, FDIC, Federal Reserve and Treasury have all proposed rules, and on Sept 30, 2026 Treasury issued an interim final rule letting smaller issuers choose state oversight. The law takes effect by Jan 18, 2027 at the latest.
Next: OCC final rule targeted for November 2026; effective date no later than Jan 18, 2027
Sources: PYMNTS, Aug 20 2026 · Yahoo Finance, Sept 30 2026
In progressUS
SEC crypto rulemaking
Several proposals out for comment
The SEC and CFTC issued a joint token taxonomy interpretation in March 2026. In August the SEC proposed Regulation Crypto Assets, an offering safe harbor with tiered fundraising exemptions. In September it granted a five-year innovation exemption for on-chain trading of tokenized US stocks, and on Oct 1 it proposed crypto custody rules for advisers and funds.
Next: Regulation Crypto Assets comments close Oct 20, 2026; custody comments close around early December
Sources: Greenberg Traurig, Aug 20 2026 · SEC, Oct 1 2026
In progressUS
CFTC leveraged retail crypto trading
Proposal out for 60-day comment
On Oct 5, 2026 the CFTC put out Regulation CTX and Regulation CAM, which would create a federal crypto asset market category so registered platforms can offer leveraged and margined retail crypto trading. Platforms could opt out and stay under state rules. Leveraged spot crypto has traded on a CFTC-registered exchange since December 2025.
Next: Comment period ends around early December 2026
Sources: The Block, Oct 5 2026 · Forbes, Oct 5 2026
In progressUS
Strategic Bitcoin Reserve
Executive order in place; bill cleared House committee
A 2025 executive order set up the reserve, funded mainly with seized bitcoin, and no federal market purchases have been confirmed. On Sept 16, 2026 the House Financial Services Committee advanced a bill that would write the reserve into law and allow budget-neutral purchases. Nothing comparable has moved in the Senate.
Next: House floor vote, no date set
Sources: The Block, Sept 16 2026
In forceUS
Ban on a Fed CBDC
Enacted via the ROAD to Housing Act
A ban on the Federal Reserve issuing a central bank digital currency rode on the ROAD to Housing Act, which passed both chambers by wide margins and became law in July 2026. CoinDesk reports the ban runs through the end of 2030; supporters want a permanent version.
Next: Any push for a permanent ban, no date set
Sources: CoinDesk, June 22 2026 · The Block, July 2026
In progressUS
Crypto tax: 1099-DA reporting and new tax bill
Reporting live; tax bill introduced
Brokers began issuing Form 1099-DA with gross proceeds for tax year 2025, and cost basis reporting applies to assets bought from Jan 1, 2026. On Sept 30, 2026 Senator Daines and colleagues introduced a crypto tax bill that would exempt small stablecoin purchases and apply wash-sale rules to digital assets.
Next: First 1099-DA forms with cost basis go out in early 2027
Sources: 24/7 Wall St, Sept 30 2026
In progressUS
Fed payment accounts for crypto and fintech firms
Proposed; comments closed
In May 2026 the Federal Reserve proposed a limited payment account that would give eligible nonbank firms, including crypto companies, direct access to Fed payment rails. Comments closed July 27, 2026, and pending crypto master account requests are on hold until the framework is final.
Next: Final rule, date not set
Sources: CoinDesk, May 20 2026
In progressUS
Crypto and alternatives in 401(k) plans
Proposed rule
On March 30, 2026 the Labor Department proposed a safe harbor that would make it easier for 401(k) plans to offer alternative assets, including crypto, following a 2025 executive order. No final rule has been published.
Next: Final rule, date not set
Sources: CoinDesk, March 30 2026
In forceEU
EU MiCA
Fully in force; transition ended July 1, 2026
MiCA's transitional period ended across the EU on July 1, 2026 with no extensions. Crypto service providers serving EU clients without a MiCA authorisation must now stop, and ESMA has told national regulators to police wind-downs and unlicensed activity.
Next: National enforcement and ESMA supervisory follow-up
Sources: Harneys, April 2026
In progressUK
UK cryptoasset regime
Final rules out; applications open
The FCA published final rules on June 30, 2026 covering stablecoin issuers, trading, custody and other activities. The application window runs from Sept 30, 2026 to Feb 28, 2027, and the regime goes live on Oct 25, 2027.
Next: Application window closes Feb 28, 2027; go-live Oct 25, 2027
Sources: Skadden, July 2026
In forceHong Kong
Hong Kong stablecoin licensing
First licences granted
The HKMA granted its first two stablecoin issuer licences on April 10, 2026, to HSBC and to Anchorpoint Financial, a venture of Standard Chartered, HKT and Animoca Brands. The government now wants licensed stablecoins traded on licensed exchanges and used to settle tokenized funds.
Next: First listings on licensed platforms and further licence batches
Sources: HKMA, April 10 2026
In progressGlobal
Basel bank crypto capital standard review
Fast-tracked review under way
The Basel Committee is reviewing parts of its standard for bank crypto exposures, which treats permissionless blockchains and many stablecoins punitively. In May 2026 it said the work was progressing and an update would come later in the year.
Next: Committee update expected later in 2026
Sources: BIS, May 20 2026
In progressUS
US federal preemption of state AI laws
Executive order in force; legislation stalled
A December 2025 executive order set up a Justice Department task force to challenge state AI laws and tied some federal funding to states dropping burdensome rules. No case had been filed as of September 2026, and a bipartisan bill to preempt state rules for three years has stalled. Colorado's rewritten AI Act takes effect Jan 1, 2027.
Next: Colorado AI Act effective Jan 1, 2027
Sources: Global Policy Watch, July 2026
In progressEU
EU AI Act
Partly in force; high-risk rules delayed
Rules for general-purpose AI models have applied since August 2025. The Digital Omnibus amendments, in effect since July 29, 2026, push high-risk deadlines to Dec 2, 2027 and Aug 2, 2028. Labelling rules for synthetic content start Dec 2, 2026.
Next: Dec 2, 2026: synthetic content labelling and new prohibitions apply
Sources: Orrick, July 2026
In progressUS / China
US AI chip export controls
H200 licensed with conditions; Blackwell banned
Since December 2025 the US has allowed Nvidia H200 sales to approved Chinese buyers in exchange for a 25% revenue share to the government. Beijing has approved only limited batches, while Blackwell chips remain banned and a May 2026 Commerce rule tightened enforcement.
Next: Further Chinese import approvals and Nvidia earnings commentary
Sources: Business Standard, Aug 19 2026
Statuses reflect public filings, agency releases and reporting as of the date above. This tracker is for information only and is not legal advice. Spot something out of date? Tell the desk.
