CLARITY Bill Hearing Live: The next cryptocurrency crash will definitely be bigger; we should prohibit federal agencies from bailing out the crypto industry to prevent U.S. taxpayers from footing the bill

Odaily Planet Daily News: The hearing on the Cryptocurrency Market Structure Bill (i.e., the CLARITY Act) has begun in the U.S. Senate Banking Committee. Democratic Senator Tina Smith stated that Bitcoin has shrunk by nearly one-third since hitting its all-time high last year, and Ethereum has shrunk by more than half from its peak. These are just the two most prominent assets in the cryptocurrency market, with nearly two trillion dollars in crypto asset value evaporating. It is almost certain that the next crash will be on a larger scale than the last. Therefore, the role of this amendment is simple: to prohibit federal agencies from bailing out the crypto industry, thereby avoiding U.S. taxpayers having to pay for it.