Even if legislation falls through, Wall Street's crypto expansion momentum remains hard to reverse.

TechFlow reports that, according to CoinDesk, the U.S. Senate is scheduled to vote on the Digital Asset Market Clarity Act (CLARITY) on Tuesday, September 15. Although the legislation aims to provide legal certainty for digital assets within the financial sector, analysts note that even if the bill stalls, Wall Street’s expansion into the crypto space will not cease. Traditional financial institutions have already made substantial inroads into this market through avenues such as ETFs and tokenization platforms.

Brian Vieten, Senior Analyst at Siebert Financial, pointed out that a failure to pass the bill could actually motivate companies to speed up their investment timelines. He added that firms currently have the economic incentive to front-load tokenization efforts during the existing regulatory window. At the same time, the SEC and CFTC are proceeding independently with digital asset rulemaking. Robinhood has voiced support for the legislation, whereas a group of eight major banks has raised objections citing concerns over stablecoin rewards.

In the broader market, RWA inflows are largely driven by tokenized equities. Data indicates that Binance's bStocks has accumulated a trading volume of roughly $118.5 million over a two-month period, firmly holding the second spot among on-chain stock DEX issuers.