U.S. Democratic sweep could be the final nail in the ‘Clarity Act’s coffin’
Source: CoinDesk ·
From the source
The crypto industry’s hope of getting a long-awaited regulatory framework through U.S. Congress suffered yet another blow Tuesday as Democrats won control of both chambers in the U.S. midterm elections. "For crypto, the Democratic sweep may well be the final nail in the Clarity Act's coffin," Mati Greenspan, a crypto market analyst, a market expert, bitcoin maximalist and founder at Quantum Economics, told CoinDesk, adding that in his opinion it’s a sad day for crypto. "The bill couldn't even clear a procedural vote in September, when Republicans controlled both chambers,” Greenspan said. “Now the industry faces the prospect of starting from scratch in a divided Washington." "The Clarity Act is likely dead in the water in its current form," said Stefan Muehlbauer, head of U.S. government affairs at blockchain security firm CertiK. The industry spent heavily on the elections, hoping to secure legislation setting out how cryptocurrencies and the companies handling them would be…
BestAIBroker analysis
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- Event classification: RUMOR.
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