Svmuu News U.S. Senator Cynthia Lummis stated that the United States should not continue to delay the legislative process of the CLARITY Act, otherwise it may take nearly four years to advance the improvement of the cryptocurrency industry's regulatory framework again. She posted on social platform X, saying, "This is our last chance to pass the CLARITY Act until at least 2030," and emphasized, "We cannot put America's financial future at risk." The bill aims to provide a clearer regulatory structure for the crypto industry, defining the responsibilities of regulatory agencies to promote industry innovation and market development. With the U.S. midterm elections approaching, there are market concerns that congressional priorities may shift, thereby slowing down the legislative process.
Former White House AI and Crypto Affairs Director David Sacks also expressed support for advancing the bill as soon as possible, stating, "Now is the time for action," and predicting that the relevant market structure legislation would ultimately be signed into law by the President.
From the industry side, several individuals, including Coinbase CEO Brian Armstrong, have recently called for accelerating the legislative process, believing that clear rules will foster innovation and increase market participation. On the regulatory side, SEC Chairman Paul Atkins also expressed support for advancing comprehensive market structure legislation to avoid ongoing regulatory uncertainty affecting industry development. (Cointelegraph)