Important political steps took place in the US Senate that opened the way wider for the passage of the first cryptocurrency legislation in the country. Republican Senator Roger Marshall agreed to withdraw the proposed credit card swipe fee amendment, which could have previously triggered a confrontation between the financial industry and large retailers—and threatened the smooth discussion of the CLARITY Act.
What Really Happened?
The credit card swipe fee amendment was seen as a "stumbling block" in the journey of the cryptocurrency bill because it could spark fierce debate between two powerful interest groups: the banking sector and large retailers. With the withdrawal of this amendment, attention can return to the main substance—regulating the cryptocurrency market in the United States.
The winter storm affecting several regions of the U.S. has also forced the postponement of the Senate Agriculture Committee's discussions from last Thursday to Tuesday, February 3. Despite the delay, the political momentum now seems more conducive to reaching an agreement.
What Is the Importance of the CLARITY Act?
The Cryptocurrency Market Structure Act (CLARITY Act) aims to provide the legal clarity long awaited by the crypto industry in the U.S. This bill is expected to:
· Clarifying the role of federal regulators (such as the SEC and CFTC) in overseeing crypto assets.
· Provide legal certainty for crypto companies operating in the U.S.
· Create a regulatory framework that supports innovation while protecting investors.
Bipartisan rifts have threatened.
Politico's reporting reveals that the rift in bipartisan support caused several delays in discussions. However, with the compromise step from Senator Marshall, hope for this bill has been rekindled.
What Does It Mean for the Crypto Market?
1. Regulatory certainty in the U.S. can attract more institutional investment.
2. The legitimacy of the industry will be strengthened with clear regulations.
3. Innovation in the blockchain and crypto sector can thrive within a clear legal framework.
This political move shows that even though the regulatory journey for crypto in the U.S. has not been smooth, compromise and legislative strategies are still in play—and legal clarity for the U.S. crypto industry may be just around the corner.
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Source: Politico, January 27 | CLARITY Act
Developments in crypto regulation in the U.S. continue to evolve—stay tuned for the latest news before making investment decisions.
