Clarity Act failure may hamper U.S. crypto as industry seeks legal clarity elsewhere
The U.S. is likely to lose out to foreign markets in the short term, but SEC and CFTC rules will help underpin the industry.
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The U.S. is likely to lose out to foreign markets in the short term, but SEC and CFTC rules will help underpin the industry.
The Digital Asset Tax Certainty Act would ease complicated tax burdens for everyday use of cryptocurrencies, though Trump’s industry ties spurred some pushback.
Last minute, behind-the-scenes disputes locked in a dismal showing for the market structure legislation the industry pinned its greatest hopes on.
The years-long effort to set U.S. regulations for crypto markets couldn’t muster enough support to make the leap over the Senate’s final 60-vote hurdle.
As the parties dig in their heels, the market structure bill hasn’t yet amassed the votes it would need to clear the first Senate hurdle scheduled for Tuesday.
President Donald Trump’s digital assets adviser spoke at a Washington event the day after a new compromise language was released for the Clarity Act.
The crypto industry eagerly awaits a September 15 vote, though it might not happen. Or maybe it will. Or it might get delayed or reappear in some other form.
A newly updated agenda from the securities regulator shows so-called Reg Crypto high on its near-term list.
Some of the many battles with state gaming regulators aren’t going well for the industry at the moment, but it isn’t without its would-be government protectors.
Europe head Gillian Lynch said Binance met Greece’s licensing requirements and that the company remains committed to the EU, despite withdrawing its MiCA application days before the July 1 deadline.