Clarity Act May Be Dead, But Crypto Industry Will Soldier On — Market Talk
The crypto-friendly Clarity Act is officially dead in Congress after falling short yesterday on a vote to push the bill to a floor debate, StoneX analyst Mark Palmer says in a note. That means the uncertainty that has lingered over much of the crypto space isn't going away, he says. Altcoins and decentralized finance protocols, which got hit the hardest under the previous SEC administration, are going to be impacted by the bill's defeat the most, Palmer says. But that doesn't mean the industry's growth will grind to a halt, he says. The work that Congress didn't finish now falls to the SEC and CFTC to sort out, which they have been preparing for, Palmer says. ([email protected])