Regulations
By Pankaj K
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What Happened. Dead, or nearly so. That's the word former federal prosecutor Renato Mariotti used to describe the…
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Historical Context. We've seen bills that were declared dead come back to life before.
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Why It Matters. If the CLARITY Act falls, the United States returns to square one on the issue of digital asset…
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What to Watch. The procedural vote on September 15, first. A formal rejection at this stage likely spells the end…
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Dead, or nearly so. That's the word former federal prosecutor Renato Mariotti used to describe the state of the CLARITY Act in the U.S. Congress.
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The CLARITY Act is not just another piece of legislation floating through the halls of the Capitol.
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Mariotti said "dead." Not "in trouble," not "at risk." Dead.
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We've seen bills that were declared dead come back to life before. The Dodd-Frank reform in 2010 — which reconfigured a significant part of American financial regulation after…
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The problem with the CLARITY Act is that the timing is bad. Internal political tensions in Congress are high, priorities change quickly, and interest groups opposing clear…
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Read also: XRP Climbs to $1.44 as Senate Votes on CLARITY Act
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For players in the crypto industry, the failure of the CLARITY Act would create an even more unmanageable regulatory patchwork than today.
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And then there's the symbolic dimension. A failure of the CLARITY Act would send a signal to global financial markets: the United States still doesn't know what to do with…
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Read also: Citi and DBS Revolutionize Cross-Border Banking with Swift Blockchain Transaction
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The procedural vote on September 15, first. A formal rejection at this stage likely spells the end of the bill for this session of Congress.
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The reactions of the financial and technology sectors after the vote also matter. Major companies with influence in Washington can still weigh in on the outcome, whether to save…
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