CLARITY Act Could Still Pass This Year Despite Senate Setback
Former U.S. Congressman Tim Ryan believes that despite its recent procedural defeat in the Senate, the CLARITY Act could still pass this year if lawmakers resolve their disputes and make concessions.
The bill aims to establish federal rules for digital asset markets and divide responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Ryan identified unresolved concerns about ethics, consumer protection, illicit finance, and stablecoin rewards as key areas of dispute. He argued that support for clear crypto rules remains bipartisan, but senators have yet to agree on the details.
The proposed legislation would set registration requirements for crypto trading platforms and other market participants, with qualifying digital commodities falling primarily under CFTC oversight and securities-related activity remaining with the SEC.