Senator Elizabeth Warren has once again issued a warning about the potential implications of new cryptocurrency legislation, including the CLARITY Act.
What is the CLARITY Act and Why is Warren Concerned?
The CLARITY Act, one of three bills being advanced by the House, includes a provision that Warren says would allow public companies to bypass SEC oversight by moving their stocks onto the blockchain.
> “Under the House bill, a publicly traded company like Meta or Tesla could simply decide to put its stock on the blockchain and – poof! – it would escape all SEC regulation,” Warren said.
Historic Vote and Deepening Divide
The House vote on these crypto bills lasted nearly 10 hours, marking the longest in its history, reflecting the divided opinions among lawmakers regarding crypto regulation.
Alongside the CLARITY Act, the GENIUS Act and the Anti-CBDC Surveillance State Act were also passed. All three bills are now headed to the Senate, but their future remains uncertain.
Industry Perspectives
Not everyone agrees with Warren. Ripple CEO Brad Garlinghouse noted that over 55 million Americans are already active in crypto and emphasized the need for a clear regulatory framework.
President Donald Trump has also expressed support for the bills, anticipating them to reach his desk. Reports suggest his personal crypto holdings have surged by over $620 million, further fueling discussions around political ties to the sector.
The spotlight now shifts to the Senate, where the bills will face more scrutiny. The outcome remains uncertain, but U.S. crypto regulation is approaching a significant turning point.
