🇺🇸 There is still one chance left for the CLARITY bill
The fate of one of the most closely followed cryptocurrency bills in the United States has not yet been decided.
French Hill, Chair of the House Financial Services Committee, said he still hopes to pass the CLARITY Act during the session between the elections and the transfer of power, after the November midterm elections.
This matters because the bill hit a major obstacle in the Senate in September. The procedural vote ended 49–50, i.e., short of the sixty votes required to move forward.
Hill believes that recent actions and guidance issued by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have improved near-term regulatory clarity, but they cannot replace legislation passed by Congress.
The bigger issue is continuity.
Policies at agencies can change when administrations or regulators change. Federal law, on the other hand, can provide a more sustainable framework for digital assets, giving companies and investors clearer rules to operate under.
Otherwise, the debate may have to be deferred to the next Congress.
The question now is simple: Can the United States turn temporary regulatory clarity into a permanent legal framework for cryptocurrencies?
Please stay tuned
#FrenchHillUrgesCLARITYActPassageInLameDuck
$ADA $DOGE $BTC
The fate of one of the most closely followed cryptocurrency bills in the United States has not yet been decided.
French Hill, Chair of the House Financial Services Committee, said he still hopes to pass the CLARITY Act during the session between the elections and the transfer of power, after the November midterm elections.
This matters because the bill hit a major obstacle in the Senate in September. The procedural vote ended 49–50, i.e., short of the sixty votes required to move forward.
Hill believes that recent actions and guidance issued by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have improved near-term regulatory clarity, but they cannot replace legislation passed by Congress.
The bigger issue is continuity.
Policies at agencies can change when administrations or regulators change. Federal law, on the other hand, can provide a more sustainable framework for digital assets, giving companies and investors clearer rules to operate under.
Otherwise, the debate may have to be deferred to the next Congress.
The question now is simple: Can the United States turn temporary regulatory clarity into a permanent legal framework for cryptocurrencies?
Please stay tuned
#FrenchHillUrgesCLARITYActPassageInLameDuck
$ADA $DOGE $BTC