U.S. senator: “Digital assets are here to stay… clear rules are needed”

A U.S. senator stressed the need to establish a clear regulatory framework, saying digital assets (cryptocurrencies) will not disappear anytime soon. He also raised concerns about congressional gridlock surrounding a digital-asset market structure bill.

According to The Block, a crypto-focused media outlet, U.S. Sen. Mark Warner said at a recent meeting on the digital-asset market structure bill, the CLARITY Act, that “digital assets are here to stay” and that “we need to put clear rules in place,” The Block reported on the 5th (local time).

Describing the current state of legislative talks as feeling “trapped in crypto hell,” Warner criticized the delays. He said lawmakers should not “create sweeping carve-outs” or craft provisions that “weaken some of the existing prosecutorial authority.”

He also cited national security issues related to decentralized finance (DeFi) as a key concern. Warner noted that DeFi structures can make it harder to trace fund flows and said this should not be overlooked in regulatory discussions.

The meeting was attended by key policymakers including Warner and U.S. Treasury Secretary Scott Bessent. Participants were said to have exchanged views on the crypto industry’s sustainability and how to set the scope of regulation.

The U.S. Congress is currently divided over how to classify digital assets as securities or commodities and how to allocate supervisory authority. Market attention is focused on whether the CLARITY Act can reach a compromise.