Paradigm’s Justin Slaughter Calls CLARITY Act Dead, Outlines House Democrats’ Crypto Bill
Slaughter said the bill House Financial Services staff are reportedly drafting could add stricter DeFi rules and move more of the industry from the CFTC to the SEC, and that DeFi "needs to be watching this very closely.
UnchainedUnchained · November 5, 2026 · 2h agoBrief · 1 min read
Paradigm senior advisor Justin Slaughter told Unchained's livestream on Thursday that the CLARITY Act appears dead and is unlikely to pass in the lame-duck session. He said House Financial Services Committee staff are reportedly drafting a separate market structure bill with four elements: stricter ethics rules for government officials' crypto dealings, tougher DeFi oversight, consumer protections championed by Rep. Maxine Waters, and moving more oversight from the CFTC to the SEC, which he called the most controversial. Slaughter also said he does not expect SEC or CFTC crypto rules to change over the next two years. Manatt partner Mike Katz said the OCC is the only agency to have finalized GENIUS Act rules.
Why it matters: It signals that the market structure debate in Congress may shift to a new House Democratic draft, which could affect DeFi and regulatory jurisdiction for crypto firms.
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