The US crypto industry’s wait for clear regulations is set to continue as the Senate has once again delayed the CLARITY Act markup hearing. As per the latest reports, the market structure is likely to be postponed until late February or March.
Notably, this CLARITY Act delay comes amid the ongoing debate between lawmakers, industry leaders, and other major players. The move fuels uncertainty over the potential passage of the market structure bill and its effect on the broader crypto market.
CLARITY Act Delayed till March
According to today’s CNBC report, the much-anticipated CLARITY Act is facing further delay. The US Senate has reportedly postponed its market structure bill review for a second time, pushing the date to late February or March.
This delay is driven by the Senate Banking Committee’s shift of focus to housing-related regulation, stated sources familiar with the matter. The move comes in response to the Trump administration’s request. Trump is prioritizing domestic economic issues ahead of the November elections, which he has underscored in his Davos speech. During his speech, he also expressed optimism about the potential passage of the CLARITY Act, sparking widespread enthusiasm.
The Senate had initially planned the markup on January 15, which was later postponed following the Coinbase CEO’s withdrawal of support. Brian Armstrong raised concerns over certain provisions that he believes would impact the crypto industry. Urging lawmakers to revise the crypto bill, Armstrong noted, “There are some people a little grumpy, I think they got caught off guard that we didn’t support the draft as-is.”
Crypto Policy Caught Between Politics and Global Competition
Significantly, the latest delay in the CLARITY Act reflects a broader political reality in the US. Here, lawmakers are caught between multiple priorities. While the Trump administration is focusing on housing policy ahead of the upcoming elections, the Senate is forced to shift focus to similar matters. These multiple delays in the market structure bill have created an extended period of regulatory uncertainty in the country. Dr. Eleanor Vance, a senior researcher at the Center for Financial Innovation, stated,
However, crypto regulatory efforts are going on outside Congress. The Treasury Department has released the updated guidance for decentralized finance protocols. At the same time, the Federal Reserve is exploring the possibility of a digital dollar. This indicates that despite the delay surrounding the CLARITY Act, the federal government is advancing crypto regulatory efforts through different arms.
Source: https://coingape.com/crypto-regulation-in-limbo-as-us-senate-delays-clarity-act-again/
