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Galaxy Research Director: The urgency of the CLARITY Act is closely related to the battle for control of the Senate
Deep Tide TechFlow News, May 4th, Galaxy Research Director Alex Thorn posted on the X platform that the CLARITY Act currently has higher urgency, one reason being the intense competition for control of the U.S. Senate. If the Democrats regain control of the Senate, former Senator Sherrod Brown may resume the chairmanship of the Senate Banking Committee; and if he fails to win the Ohio Senate race, but the Democrats still hold the Senate majority, the committee may be led by Elizabeth Warren. These potential personnel changes could have a significant impact on the regulation direction of the cryptocurrency industry, thereby increasing the practical urgency of advancing the CLARITY Act.
Note: Elizabeth Warren is not friendly to the cryptocurrency industry. She has previously urged the U.S. Department of the Treasury to implement strict supporting rules for the GENIUS Act and issued clear guidance to prohibit the use of foreign exchange stabilization funds or Federal Reserve emergency lending tools to backstop stablecoins and the crypto industry.