CLARITY Act setback may delay US crypto launches: Experts
The Senates 50-49 failure to advance the CLARITY Act has left crypto firms without a federal market structure framework and could delay product launches, funding decisions, and commercial agreements, according to three industry experts. CLARITY Act failure leaves jurisdiction questions open Kyle Bligen, executive director at the Decentralization Research Center, told crypto.news that the Senate result was disappointing but did not remove the need for lasting digital asset rules. “Congress remains the best route to a comprehensive market structure framework,” Bligen said. In the absence of federal legislation, Bligen called on the Securities and Exchange Commission and Commodity Futures Trading Commission to use their current powers to give the industry clearer guidance. He cautioned, however, against applying rules built for conventional financial middlemen directly to decentralized systems. The policy task, according to Bligen, is to protect consumers and counter illegal activity without placing duties on developers or other participants who lack the control needed to carry them out. “That work cannot stop because the legislative process has stalled,” he said. The 50-49 Senate vote fell 10 votes short of the 60 required to invoke cloture and begin formal debate on H.R. 3633. Cloture would not have passed the bill into law; it would only have allowed the
