Lame-Duck Session Could Give CLARITY Act Another Chance
The CLARITY Act, a bill aimed at clarifying cryptocurrency market structure, may still have a chance to move forward in Congress despite failing to advance this week. According to Adrian Wall, managing director of the Digital Sovereignty Alliance, senators from both parties are considering another attempt to pass the legislation before the current Congress ends.
Wall stated that he has spoken directly with senators who are looking at putting the CLARITY Act forward during the lame-duck session, which could happen after the elections. He emphasized that this would be a challenging and complicated process, but not impossible.
The bill was unable to gather enough votes in the Senate on Tuesday, falling short of the 60 required for cloture. However, Wall sees this as a setback rather than an end to the legislation's chances. If the CLARITY Act does not pass during the lame-duck session, he believes that it could be taken up by the next Congress.
The Digital Sovereignty Alliance is a nonprofit advocacy group that works with lawmakers and regulators on digital asset policy.