Clarity Act Stalls in US Senate Until 2030

The Clarity Act, a comprehensive crypto market structure bill, has stalled in the US Senate and will likely not see the light of day until at least 2030. The 635-page bill was a far cry from its initial 275-page version, with significant amendments added throughout the year-long negotiation process.

Regulators are stepping in to fill the gap left by the absence of legislation, but experts warn that this may have unintended consequences for smaller players in the financial services industry. Despite the setback, the crypto market is continuing to move forward rapidly, with new product developments and compliance improvements.

The four major issues that derailed the Clarity Act were the concern over payment stablecoin yields, stricter protections for anti-money laundering and consumer protection, regulating decentralized finance (DeFi), and ethics provisions targeting President Trump's crypto interests.