Foreign media reports that the US Cryptocurrency Market Structure Act Clarity Act is approaching a crucial vote in September, but the industry's confidence in its passage before the mid-term elections has clearly weakened. The report indicates that disputes over stablecoin incentives and ethical provisions related to Trump and his family's interests in cryptocurrencies remain the main obstacles to the advancement of the bill.
The legislative window is narrowing.
Industry insiders generally believe that the difficulty of implementing Clarity Act this year is increasing. John Darsie, the CEO of SALT, stated that with midterm elections approaching, it is not easy to push through legislation of such a scale. Arizona Senator Ruben Gallego also acknowledged that both parties in Congress still need to reach a consensus on the remaining disputes.
Regulatory measures have already been eased.
The report mentions that despite the uncertain prospects for comprehensive legislation, the industry has not stopped moving forward. After the Trump administration took office, institutions such as SEC, CFTC, and the US Federal Reserve have adopted a more lenient attitude towards crypto assets. The White House has also continued to prioritize crypto policy.
The industry still desires certainty.
Many industry insiders believe that formal legislation still has value, as it can provide capital with more stable expectations. Chainlink Labs The person in charge of institutional and market development said that if the rules in different jurisdictions change significantly every few years, it is difficult for institutions to allocate funds over the long term. Andrew McCormick
OKX, a member of the board of directors and former Governor of New York State, Andrew Cuomo warned that if Clarity Act is not passed before the mid-term elections, changes in control of the House of Representatives could lead to regulatory disputes lasting for many years. The report concluded that the industry has learned to move forward in the absence of a clear framework from Washington.
