Galaxy Head of Research: The URGENCY of the CLARITY Act is closely related to the battle for control of the Senate

According to ChainCatcher, Galaxy Head of Research Alex Thorn posted on X stating that passing the CLARITY Act currently has greater urgency, one reason being the exceptionally fierce competition for control of the US Senate. If the Democratic Party regains control of the Senate, former Senator Sherrod Brown may resume the position as Chairman of the Senate Banking Committee; however, if he fails to win the Ohio Senate election but Democrats still control the Senate, the committee could be led by Elizabeth Warren.

These potential personnel changes could have a significant impact on the direction of crypto industry regulation, thereby increasing the practical urgency for advancing the CLARITY Act. Note: Elizabeth Warren is not friendly toward the crypto industry; she has previously urged the US Treasury to implement strict supporting regulations for the GENIUS Act and clearly issued guidance prohibiting the use of the Exchange Stabilization Fund or Federal Reserve emergency lending tools and other federal resources to back stablecoins or the crypto industry.