Clarity Act Hits Final Hurdle as Senate Recess Looms

The Clarity Act, a US crypto regulation bill, is at its final hurdle before the Senate summer recess. Coinbase CEO Brian Armstrong urged lawmakers to pass the bill quickly, saying 'Clear rules are almost here. We are on the 1-yard line.'

Armstrong called the bill's preparation process 'a true bipartisan effort.' The bill has already passed the Senate Banking Committee by a 15-9 vote in May, but it needs 60 votes to pass the Senate.

The key is time, as those pushing for comprehensive regulation must reach an agreement within seven days. If they fail, the timing could slip to the fall. SEC Chairman Paul Atkins acknowledged that if Congress fails to pass the Clarity Act, the SEC will use its existing authority to introduce its own crypto market rules.

New SEC Chairman Paul Atkins (폴 앳킨스) has said that only comprehensive legislation passed by Congress can create a foundation that will not be shaken with each change of administration.