Hoskinson explains CLARITY Act failure: too broad, no consensus
- —Hoskinson said 'As predicted' after the CLARITY Act procedural vote failed
- —The bill fell short of 60 votes, with all Democrats and four Republicans opposed
- —Hoskinson proposes splitting regulation into parts: stablecoins, DeFi, custody, taxes
- —He criticized weak consultations with the EU, Japan, Korea and ADGM during the bill's drafting
Why it matters: The CLARITY Act's failure leaves the US crypto market without clear rules, and the debate over splitting regulation will shape Congress's next steps.
Source: Cryptonews.net