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The Clarity Act is ready for a full Senate floor vote. The bill represents a true bipartisan compromise with thousands of hours of work on both sides, and it couldn't come at a better time. The status quo in the U.S. isn't working. There's no federal framework, so bad actors like FTX can harm U.S. customers and much of the industry has gone offshore totally outside U.S. purview. This bill fixes that with strong consumer protections, real tools for law enforcement, and a path for America to lead in this industry. Crypto can't be uninvented at this point, so whether you love crypto or hate crypto, you should want clear federal laws. And it's also simply good politics: 70% of American voters say the U.S. should have already passed comprehensive crypto legislation. Let's finish this! Special thanks to the @standwithcrypto members who sent 950k contacts to their representatives in congress. Keep it up.
Whether you like crypto, hate crypto, or don’t care, you should want this bill passed. CLARITY will establish comprehensive federal oversight, rigorous rules, and consumer protections where there otherwise are none. It’s now down to the Senate to help America set the standard.
Thank you @SenatorTimScott, @SenLummis, and @JohnBoozman - along with senators and staff on both sides of the aisle - for taking a huge step today to advance the CLARITY Act. Major legislation requires real compromise, and while the industry did not get everything it wanted, this bill is an extraordinary achievement and strikes the right balance. By bringing emerging technology under a clear federal umbrella while preserving the gold-standard protections of the U.S. financial system, this bill represents a major legislative achievement that the Senate should pass without delay.
Thank you @SenatorTimScott, @SenLummis, and @JohnBoozman - along with senators and staff on both sides of the aisle - for taking a huge step today to advance the CLARITY Act. Major legislation requires real compromise, and while the industry did not get everything it wanted, this bill is an extraordinary achievement and strikes the right balance. By bringing emerging technology under a clear federal umbrella while preserving the gold-standard protections of the U.S. financial system, this bill represents a major legislative achievement that the Senate should pass without delay.
Hundreds of organizations. Thousands of people. Hundreds of thousands of hours. All leading to CLARITY. Today's draft is the most bipartisan and balanced approach ever proposed—a hard struck compromise that will protect builders and consumers. We can't wait any longer.