Warren opposes CLARITY Act

U.S. Senator Elizabeth Warren, a cryptocurrency critic, reiterated her opposition to the Digital Asset Market Structure Clarity Act (CLARITY Act), arguing in a recent MSNBC interview that the legislation, which was passed by the House, encourages corruption among elected officials. The CLARITY Act is scheduled for consideration in the Senate starting in September. In June, Republican leaders on the Senate Banking Committee announced their intention to pass the bill by September 30. The CLARITY Act aims to establish a regulatory framework for the cryptocurrency industry, dividing regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).