The Senate Banking Committee is reportedly accelerating the process for the CLARITY Act, which aims to regulate the cryptocurrency market.
According to information shared by Fox Business reporter Eleanor Terrett, the committee is preparing to formally announce the “markup” session necessary for the discussion of the bill as early as tomorrow. It was also reported that a draft of the bill was shared with selected industry representatives ahead of a possible vote today.
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According to multiple sources close to the matter, the bill is still in its final stages of revision. It is expected that some additional changes will be included to reflect the priorities of Democratic senators. This indicates that the final version of the bill is not yet entirely clear.
A source within the industry stated that the general sentiment regarding the bill in its current form is positive, and initial assessments from crypto industry representatives have been favorable. However, some sections in the text that are “in square brackets” have drawn attention, raising concerns that some critical clauses previously thought to be agreed upon may still be open to change.
*This is not investment advice.