The U.S. Congress has taken an important step toward regulating digital assets by passing the CLARITY Act. This legislation aims to set clear rules for cryptocurrencies in the country.
Initial Steps Towards Crypto Regulation
On Thursday, the U.S. House of Representatives voted in favor of the Digital Asset Market Clarity (CLARITY) Act, with a final result of 294-134. This bill, led by Republicans, lays the groundwork for how cryptocurrencies are regulated in the United States. Nearly 80 Democrats joined Republicans in supporting the measure, indicating broad bipartisan backing.
Upcoming Bills on Stablecoins and CBDCs
Legislative initiatives are ongoing, with the next item on the agenda being the GENIUS Act, aimed at creating a federal framework for stablecoins. A vote on this bill is expected soon, along with an initiative against the potential use of government-issued digital currencies for surveillance.
Opinions of Opponents and Supporters
Despite support for the bill among some Democrats, others, such as Senator Schumer and Senator Warren, voted against it, expressing concerns about regulatory loopholes and conflicts of interest related to President Trump. Senator Tim Scott, a co-sponsor of the bill, called it a win for national security and innovation. Meanwhile, Warren delivered a strong speech warning of potential corruption tied to cryptocurrencies.
The success of the CLARITY Act is part of a broader legislative strategy aimed at simplifying and improving the regulation of digital assets in the U.S. Further steps are anticipated in this area, including the discussion of stablecoins and CBDCs.
