Gate News update. On April 12, U.S. Senator Cynthia Lummis said the U.S. should not continue to delay the legislative process for the CLARITY Act, otherwise it may have to wait nearly four years before pushing for improvements to the crypto industry’s regulatory framework again. She wrote on the social platform X: “This is our last chance to pass the CLARITY Act at least before 2030,” and emphasized that “we can’t let the financial future of the United States fall into risk.” The bill is intended to provide the crypto industry with a clearer regulatory structure, clarify the responsibilities of regulatory bodies, and drive innovation and market development. As the U.S. midterm elections approach, the market is concerned that congressional priorities may shift, slowing down the legislative process. Former White House AI and crypto affairs lead David Sacks also said he supports moving the bill forward as soon as possible, saying, “Now is the time to act,” and expects the related market-structure legislation to ultimately take effect after the President signs it. In the industry, multiple people—including a certain CEX CEO, Brian Armstrong—have recently also called for speeding up the legislative process, arguing that clear rules will promote innovation and increase market participation. On the regulatory side, SEC Chair Paul Atkins has also said he supports pushing comprehensive market-structure legislation to prevent regulatory uncertainty from continuing to affect industry development.
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