TechFlow News, April 12: According to Cointelegraph, U.S. Senator Cynthia Lummis—a prominent cryptocurrency advocate—posted on X on Friday, stating, “This is our last chance to pass the CLARITY Act before at least 2030,” and adding, “We cannot risk America’s financial future.”
David Sacks, former White House Director for AI and Cryptocurrency Affairs, expressed a similar stance on Thursday, urging the Senate Banking Committee and the full Senate to swiftly pass the Market Structure Bill, and noting, “President Trump will sign this landmark legislation.”
Multiple industry figures have also weighed in. Chris Dixon, Managing Partner of a16z Crypto, stated, “When rules are clear, both consumers and entrepreneurs benefit”; Robbie Ferguson, co-founder of Web3 gaming company Immutable, said on April 3, “The CLARITY Act will dwarf the growth the gaming industry has seen over the past decade”; and Coinbase CEO Brian Armstrong stated on Friday that “now is the time” to advance the bill after months of delay.
On the regulatory front, Paul Atkins, Chair of the U.S. Securities and Exchange Commission (SEC), called on Congress the same day to move forward with comprehensive market structure legislation. Paul Grewal, Coinbase’s Chief Legal Officer, previously noted that the bill may be nearing the markup hearing stage at the Senate Banking Committee—but its progress hinges on resolving disputes regarding stablecoin yield.
The industry widely fears that the U.S. midterm elections in November may shift congressional priorities, weakening momentum for this long-anticipated cryptocurrency legislation.
