U.S. crypto industry leaders see little chance of major movement on the Digital Asset Market Clarity Act (CLARITY Act) before Congress’ current session ends, shifting attention to regulators and the next Congress.
Digital Chamber CEO Cody Carbone sees little prospect of further progress on the bill as lawmakers turn to other priorities. Republicans have limited time remaining in the current Congress, while Democrats are expected to have greater influence in the next Congress and little incentive to make major compromises now.
The bill has also faced a leadership transition among lawmakers involved in its development. The next Congress begins Jan. 3.
Other issues could still receive attention before then, including crypto tax rules, expanded Commodity Futures Trading Commission (CFTC) authority over spot crypto markets and faster data center permitting. A bipartisan data center permitting bill has cleared an initial procedural step in the Senate. Some Bitcoin (BTC) mining companies have concerns about potentially bearing power-grid expansion costs and higher energy costs.
Blockchain Association head Kristin Smith pointed to the short legislative calendar and crowded agenda. The Securities and Exchange Commission (SEC) and CFTC continue to shape the industry’s major regulatory rules.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to [email protected].
