Clarity Act Stalls, Dealmakers Keep Going: Bankers See Crypto Acquisitions Continuing

By Kevin · 2026-10-04 · News

NEW YORK, Oct. 4 (CandyPulse) — Washington may have hit the brakes on crypto legislation, but Wall Street's dealmakers haven't. Despite the CLARITY Act's failure in the Senate, bankers and investors told CoinDesk they don't expect crypto mergers and acquisitions to stop.

Key takeaways

The CLARITY Act failed a Senate procedural vote 49–50 on Sept. 15
Crypto dealmaking hit a record $9.7 billion in disclosed value in the first half of 2026
That's up about 44% from a year earlier
Bankers say the setback may cool interest but won't halt deals

Where the CLARITY Act stands

The bill, which would have split crypto oversight between the SEC and the CFTC, fell short of the 60 votes needed to move forward. Talks broke down largely over ethics rules for senior officials' crypto business interests, including President Trump's.

With the November midterms approaching and little time left on the legislative calendar, its chances of passing this year have dropped sharply.

Why deals keep happening

Factor	Why it supports dealmaking
Record first half	$9.7 billion in disclosed deals shows strong momentum
Regulators still active	The SEC and CFTC are writing rules under existing powers
Strategic needs	Firms still want licences, technology and customers
Traditional finance interest	Banks and exchanges keep moving into crypto

Many of the biggest moves this year, from exchanges buying derivatives platforms to traditional firms partnering with crypto companies, were driven by long-term strategy rather than a single law.

What could slow things down

Bankers did acknowledge that the bill's collapse might curb some interest. Without clear legislation, buyers face more uncertainty about how acquired businesses will be regulated, and that can make valuations harder.

Why it matters

M&A is a good barometer of confidence. If big companies are still willing to buy crypto businesses even without new laws, it suggests they see the industry as here to stay, regardless of how long Congress takes.

What's next

Watch for how quickly the SEC and CFTC move under their existing authority. Clear rules from regulators could keep the dealmaking momentum going while legislation stalls.

This article is for information only and is not financial advice.