Solana Policy Institute Says CLARITY Act Could Set Global Regulatory Standard

The CLARITY Act, a key U.S. cryptocurrency market-structure bill, could become a global regulatory benchmark if enacted, according to the Solana Policy Institute. Markets are watching how changes in the U.S. framework could influence policy elsewhere.

Decrypt reported on May 28 that Kristin Smith, head of the Solana Policy Institute, said the CLARITY Act could have a broad impact across global finance if it passes.

Smith said countries including South Korea, the U.K. and Canada began adopting similar regulatory frameworks after the GENIUS Act, a U.S. stablecoin bill, passed last year. She added that the CLARITY Act could also serve as a global standard.

The bill includes provisions on stablecoins, decentralized finance and anti-money laundering rules. It would also amend existing securities laws to place oversight of most cryptocurrencies with the Commodity Futures Trading Commission rather than the Securities and Exchange Commission.

Some Democratic lawmakers, including Senator Elizabeth Warren, oppose the bill, arguing it could weaken global regulation and allow cryptocurrencies to be used for terrorism financing and sanctions evasion.

The crypto industry is broadly optimistic about the bill's prospects, though some investment banks expect a low chance of passage this year. A full Senate vote is expected in June, after which the measure would go through House coordination and presidential sign-off.