Stalled CLARITY Act Sparks Debate Over Regulatory Clarity

Crypto advocates Reps. Ritchie Torres and French Hill, who sit on opposite sides of the aisle, discussed the stalled CLARITY Act at CoinDesk's Policy & Regulation conference.

The bill, which passed the House with strong bipartisan support but stalled in the Senate, aims to provide regulatory clarity for the crypto industry.

Torres emphasized the importance of regulatory clarity, stating that it is essential for the growth of the industry. Hill, on the other hand, argued that a statutory framework should be put in place rather than relying on regulatory exemptions.

The conversation also touched on protections for software developers, crypto tax rules, and the implications of 'agentic' AI transacting on behalf of consumers, which could raise questions around liability and consumer protection.