In Washington, cautious optimism persists regarding the fate of the CLARITY Act — a bill that, for the first time in U.S. history, aims to provide comprehensive federal regulation of the crypto industry. However, despite progress in negotiations, the key sticking point remains the provisions concerning ethics and the resolution of potential crypto conflicts of interest related to former President Donald Trump.
Political Stalemate Amid Ethical Disagreements
The current version of the document, according to my information, does not enjoy the support of the Democratic Party. The main reason is the concern that the bill in its current form could create loopholes for using crypto assets for political purposes, especially in the context of Trump's business interests, who is actively involved in NFT projects and decentralized finance (DeFi). Republicans, for their part, insist that excessive ethical restrictions will stifle innovation and scare off institutional investors.
My sources in Congress and among representatives of the crypto industry indicate that the technical work on the text could be completed within the next few months. However, without a compromise on the ethical block, the bill risks remaining at the discussion stage.
Expert Perspective
From my point of view, the situation surrounding the CLARITY Act is a classic example of how political infighting undermines necessary regulation. The U.S. crypto industry urgently needs clear rules of the game, and delaying the passage of the law due to disputes over one politician's conflict of interest is a bearish signal for the market. If the parties do not find a compromise within the next six months, we risk seeing the U.S. cede leadership in crypto regulation to Europe and the UAE.