US senator says crypto is here to stay, calls for clear rules

U.S. Senator Mark Warner expressed frustration over legislative gridlock on crypto regulation during a meeting on a market structure bill known as the CLARITY Act, The Block reported. He stated that the situation felt like being trapped in crypto hell. Warner argued that cryptocurrency is here to stay and that clear rules are necessary, cautioning against creating regulations with broad exemptions or those that would weaken existing prosecutorial powers. The senator also noted that national security issues related to DeFi are a concern. The meeting was also attended by other senators and Treasury Secretary Scott Bessent.