US, finally deciding on coin regulation…CLARITY Act passage imminent?

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As the US political sphere and the global cryptocurrency industry move simultaneously, pressure for the passage of the CLARITY Act, a bill concerning the structure of the US cryptocurrency market, is rapidly increasing.

According to investment media FXStreet on April 11 (local time), high-ranking US government officials and leaders of major cryptocurrency companies are urging the passage of the CLARITY Act to establish a regulatory framework for digital assets ahead of the congressional restart. The bill aims to clarify supervisory authority between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and limit excessive regulation on blockchain networks.

The bill, which has already passed the House, has been delayed in the Senate Banking Committee due to negotiations over stablecoin-related provisions, but expectations for its passage within months are reviving due to recent increased support from the government and industry. In particular, Treasury Secretary Scott Bessent strongly emphasized the necessity of the bill, stating that innovative companies are moving overseas to places like Abu Dhabi and Singapore due to regulatory uncertainty.

Senator Cynthia Lummis urged swift legislation, saying, "This is the last chance until at least 2030." David Sacks, a member of the President's Council of Advisors on Science and Technology, also pointed to the CLARITY Act as key legislation to establish rules for digital assets in general, following the GENIUS Act for stablecoin regulation.

Support is also spreading within the industry. Key figures such as Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, and a16z co-founder Marc Andreessen have all urged the bill's passage, and it is reported that significant disagreements regarding existing stablecoin revenue structures and DeFi regulations have largely been resolved.

The government and industry are actively pursuing a strategy to make the US a global digital asset hub through the CLARITY Act. The market has high expectations that if the bill passes, regulatory uncertainty will be resolved, and the inflow of institutional funds and the pace of industry growth will both accelerate.

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