Y Combinator urges passage of CLARITY Act

Silicon Valley startup accelerator Y Combinator is urging the passage of the CLARITY Act. The firm stated that while blockchain enables low-cost, instant global asset transfers, 24/7 trading, and open APIs, it requires integration with key parts of the traditional financial ecosystem—such as banks, brokers, exchanges, and custodians—to be truly effective. According to Y Combinator, the CLARITY Act could achieve this by defining which crypto assets are securities and which are commodities, thereby completing regulatory clarity alongside the GENIUS Act. If the bill passes, the firm emphasized, companies could pay global customers instantly, exchanges could settle trades in seconds, and software firms could operate around the clock in 150 countries without needing banks.