The SEC and CFTC are advancing digital-asset policy after the U.S. Senate voted 49-50 on September 15 to block the Digital Asset Market Clarity Act, H.R. 3633. The SEC has provided a route for certain tokenized stocks to trade on blockchain-based platforms, while the CFTC has offered relief to some software developers, RedStone co-founder and COO Marcin Kazmierczak said. Regulators are also considering frameworks for crypto exchanges, leveraged trading, stablecoins and blockchain-based recordkeeping, while the Federal Reserve's proposed GENIUS Act rules would set stablecoin reserve and risk-management requirements. These agency-led steps support the growing use of blockchains for stocks, funds and Treasury-backed products, but SEC Chair Paul Atkins has said exemptions and guidance can be changed or withdrawn, leaving long-term certainty dependent on legislation. The SEC's proposed Regulation Crypto Assets and the CFTC's tokenized-asset accounting work continue alongside these efforts. Political uncertainty remains ahead of the midterm elections, with Polymarket odds at 6% at press time, while Coinbase CEO Brian Armstrong has argued that crypto policy concerns whether next-generation financial technology is developed in the United States.