US Crypto Industry Awaits Passage of CLARITY Act Amid Regulatory Uncertainty

The US crypto industry is eagerly awaiting the passage of the CLARITY Act, which aims to provide a clear regulatory framework for digital assets. According to Bill Hughes, senior counsel and director of global regulatory matters at Consensys, the bill would help to reshore the crypto industry in the United States.

Hughes highlighted that the US dollar is the world's largest fiat on-ramp for cryptocurrency, with a significant portion of trading volume taking place on exchanges based outside of the country. In 2025, Binance accounted for over 38% of all centralized exchange trading volume, while Coinbase was the only US-based exchange among the top 10, holding just 6.1% market share.

The CLARITY Act would provide a much-needed boost to the industry by formally ending years of regulatory uncertainty and encouraging projects to build in the US. However, time is running out to pass the bill before the midterm elections, with experts warning that progress may stall until 2030 if not passed soon.