🇺🇸JUST IN: The Crypto Clarity Act has failed to pass in the US Senate
This means⤵️
➡️No new federal market-structure law is coming this year….The rules stay incomplete
➡️Crypto companies in the U.S. keep operating under a patchwork of lawsuits, agency guidance, and state rules instead of one statute
➡️The SEC and CFTC can still write their own rules, but those can be changed by a future administration….A clarity law would have been harder to unwind
➡️Other countries that already passed clearer frameworks look relatively more attractive for some firms
The industry’s main attempt to get Congress to write the rules just died on a procedural vote
So regulation will keep coming from agencies and the courts instead of from a single new law.
#BTC
This means⤵️
➡️No new federal market-structure law is coming this year….The rules stay incomplete
➡️Crypto companies in the U.S. keep operating under a patchwork of lawsuits, agency guidance, and state rules instead of one statute
➡️The SEC and CFTC can still write their own rules, but those can be changed by a future administration….A clarity law would have been harder to unwind
➡️Other countries that already passed clearer frameworks look relatively more attractive for some firms
The industry’s main attempt to get Congress to write the rules just died on a procedural vote
So regulation will keep coming from agencies and the courts instead of from a single new law.
#BTC
