Clarity Act looks dead for the lame duck as House Democrats reportedly draft their own market-structure bill

Paradigm's Justin Slaughter said on Unchained's livestream that the Clarity Act is unlikely to pass in the lame-duck session, and that House Financial Services staff are reportedly writing a bill with tighter ethics rules for officials, stricter DeFi rules, more consumer protections and more power for the SEC at the CFTC's expense. CryptoSlate pointed to a Nov. 4 report from journalist Eleanor Terrett describing a similar outline. On stablecoins, the OCC's final GENIUS Act rule takes effect Jan. 18, 2027, while the FDIC, Federal Reserve and NCUA have only proposed theirs.