Three things worth knowing in crypto this week:
The CLARITY Act stalls in the Senate
On September 15, the U.S. Senate failed to advance the CLARITY Act after a 49–50 procedural vote fell short of the 60 votes required. The bill would have created a broader federal framework for digital-asset markets, but disagreements over ethics safeguards and investor protection prevented it from moving forward. The vote leaves one of the crypto industry’s central policy priorities unresolved and makes further progress this Congress uncertain. Read the Senate record.
The Federal Reserve raises rates by 25 basis points
On September 16, the Federal Open Market Committee unanimously raised its target range for the federal funds rate to 3.75%–4%, citing still-elevated inflation. It was the Fed’s first rate increase since 2023. Because tighter monetary policy raises the cost of capital and can reduce demand for risk assets, the decision matters well beyond traditional markets—including crypto, where liquidity conditions remain an important driver of prices and investment. Read the FOMC statement.
Circle launches Arc mainnet
Also on September 16, Circle launched the public mainnet for Arc, an open Layer 1 blockchain designed for financial markets, real-time money movement and AI-agent activity. Arc uses USDC for transaction fees and launched with more than 100 applications and more than 100 institutional and ecosystem builders, with organizations including BlackRock, DTCC, Mastercard and Visa participating in its broader network. The launch moves Circle beyond issuing stablecoins toward operating infrastructure for payments and tokenized finance. Read Circle’s announcement.