Congressional Action Stalls on Clarity Act
The Senate has shelved the Crypto Clarity Act, halting momentum on what has become a focal point for digital asset market structure regulation. Despite earlier hopes for a vote, lawmakers have delayed action on the bill, which has attracted bipartisan interest and support from major institutional players.
The legislative pause comes despite public endorsements from BlackRock, Fidelity, Franklin Templeton, Goldman Sachs, and SoFi—signaling alignment between Wall Street and crypto market clarification efforts. SEC Chairman Paul Atkins stated he is 'committed' to helping advance the Clarity Act, indicating executive branch backing for the measure. However, the timing remains uncertain, with some lawmakers hoping for action by next week.
International Regulatory Actions and Enforcement
Myanmar's parliament has passed an anti-online scam bill that imposes severe penalties for cryptocurrency-related fraud, including prison terms ranging from 10 years to life for those convicted of operating crypto scams or scam centers. This reflects a global trend toward hardening criminal statutes around digital asset misuse.
In the United States, a lawsuit has alleged that Apple maintained a fraudulent bitcoin wallet application on its App Store despite receiving a report of an $875,000 theft, resulting in a second user losing approximately $840,000. The case raises questions about platform oversight responsibilities in the cryptocurrency ecosystem.
Market Structure and Regulatory Perspective
DRW CEO Don Wilson has publicly stated that regulators are mischaracterizing perpetual futures in crypto markets, arguing that these instruments are not inherently risky gambling tools and that traditional financial regulators should embrace them. This positions a major market participant against the prevailing regulatory skepticism toward derivatives.
A Trump administration official, Gabriel Perez, who was accused of profiting from prediction market bets on Kalshi tied to presidential speeches, is no longer employed by the federal government, according to reporting by the Associated Press. The departure follows scrutiny of potential conflicts of interest in government service.
This article was written by our AI pipeline from aggregated headlines and live market data. Not financial advice.