Mmastodon WorldUS Politics first seen 15 h ago, last 10 h ago, peak #1
Crypto market structure bill collapses at the last minute
Original: After years of political pressure and hundreds of millions of dollars in campaign funds and lobbying, the Clarity Act co
The Clarity Act, a major crypto market structure bill that industry groups backed with hundreds of millions of dollars in campaign contributions and lobbying, has failed at the eleventh hour after years of political pressure. Critics say the bill's name was misleading, comparing it to the PATRIOT Act, and are celebrating its collapse as a win for accountability over industry-friendly legislation.
Why now: A heavily lobbied crypto bill failing despite massive industry spending is striking news for anyone following US crypto regulation.
Clarity ActUS Congresscrypto industry
Evidence
- After years of political pressure and hundreds of millions of dollars in campaign funds and lobbying, the Clarity Act collapsed at the eleventh hour. This is good news — the Clarity Act isn’t about “clarity” in crypto regulations any more than the PATRIOT Act is about… · molly0xfff@hachyderm.io · 72
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