Clarity Act Fails to Pass U.S. Senate, Jake Chervinsky Says Better No Bill Than a Bad Bill

Odaily News: Jake Chervinsky posted on X that the U.S. Senate did not pass the crypto regulatory bill Clarity Act, but proponents did not compromise on principles during 18 months of research, negotiation, and revision, insisting that it is better to have no bill than a bad bill. He stated that due to political maneuvering in an election year, a good deal was difficult to reach, but the crypto industry can still function without the Clarity Act, and the U.S. SEC and CFTC possess the authority and expertise needed to regulate the crypto market. Jake Chervinsky believes that the discussion on crypto regulation has only just begun, and there remains room for future policy prospects.