PiCK

U.S. Senator: Some Compromise Is Inevitable to Pass the CLARITY Act

JH Kim

Summary

A U.S. senator said some compromise will be necessary to pass the CLARITY Act, a market-structure bill for virtual assets.
Sen. Angela Alsobrooks said at the American Bankers Association (ABA) summit in Washington that tangible progress matters more than perfection in passing the bill.
She said the compromise she and Sen. Thom Tillis have crafted aims to prevent deposit outflows while supporting innovation.

Forecast Trend Report by Period

A U.S. senator said some compromise will be necessary to pass the CLARITY Act, a market-structure bill for virtual assets (cryptocurrencies).

According to Eleanor Terrett, host of Crypto in America, on the 10th (local time), Sen. Angela Alsobrooks made the remarks at an American Bankers Association (ABA) summit held in Washington.

“Perfect cannot be the enemy of good when it comes to getting this bill across the finish line,” she said. “I think I need to be candid that everyone will probably walk away at least a little dissatisfied.”

She added, “I believe the compromise that Sen. Thom Tillis and I have been working on is designed to prevent deposit outflows while supporting innovation.”