CLARITY Act · US Congress · White House · Bitcoin Magazine
Regulators To Push Pro-Crypto Initiatives Following Clarity Act Delay
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A vote on the Clarity Act last week stalled.
Key facts
- Regulators the SEC and CFTC have become remarkably more crypto-friendly since President Trump took the White House
- When Gary Gensler was in charge of the SEC under Democratic President Joe Biden, the regulator went after crypto firms like Coinbase and Kraken
- But Democrats still had a problem with it and some were deliberately holding it back, according to Republicans like Cynthia Lummis
- And JD Supra reported Tuesday that Commodities and Futures Trading Commission Chairman Michael Selig was ready to proceed with “rulemaking whether or not the Clarity Act is enacted, with the goal of finalizing rules before the end of the current administration
Summary
The long-awaited crypto Clarity Act has stalled and is due a September vote but regulators are ready to step in to advance crypto rules regardless, according to reports. Tuesday that the Securities and Exchange Commission was preparing to roll out this week initiatives to help the crypto industry. And JD Supra reported Tuesday that Commodities and Futures Trading Commission Chairman Michael Selig was ready to proceed with “rulemaking whether or not the Clarity Act is enacted, with the goal of finalizing rules before the end of the current administration.” The news from the regulators comes as the Clarity Act stalls. Lawmakers started mulling over a new draft of the bill, which was passed by the House of Representatives last year, in July.