US Senator Cynthia Lummis has expressed concern that the passing of the CLARITY Act may be delayed until at least 2030 if it is not passed soon. The proposed legislation, which aims to establish comprehensive crypto regulation, may face obstacles due to upcoming midterm elections.
The US cannot afford to delay regulatory oversight in the crypto industry, according to Senator Lummis. She emphasized that the country needs to act quickly to clarify which agencies oversee different parts of the market and reduce regulatory uncertainty.