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CLARITY Act Hearing Live: The next crypto crash will definitely be bigger; we should ban federal agencies from rescuing the crypto industry to prevent American taxpayers from footing the bill.
Odaily Planet Daily News: The “Cryptocurrency Market Structure Act” (also known as the CLARITY Act) has begun review by the U.S. Senate Banking Committee. Democratic Senator Tina Smith stated that Bitcoin has shrunk by nearly one-third since reaching its all-time high last year, and Ethereum has lost more than half of its peak value. These are just the two main assets in the cryptocurrency market, with nearly two trillion dollars in crypto assets evaporating. It is almost certain that the next crash will be even larger than the last. Therefore, the purpose of this amendment is simple: to prohibit federal agencies from rescuing the crypto industry, thereby preventing American taxpayers from footing the bill.