The CLARITY Act Could See Another Chance in Congress During Lame-Duck Session
The CLARITY Act, a piece of legislation aimed at regulating the crypto market structure, may have another opportunity to be pushed through Congress during the post-election lame-duck session. This comes after the Act failed to advance in the Senate earlier this week, as revealed by Adrian Wall, the managing director of the Digital Sovereignty Alliance.
Wall disclosed on Wednesday that he has directly communicated with senators from both political parties who are contemplating making another effort to move the legislation forward before the current Congress concludes. Despite acknowledging the challenges ahead, Wall remains optimistic about the possibility of progress during this period.
During an appearance on Cointelegraph’s Chain Reaction show, Wall stated, “There is an appetite to put this forward even during the lame duck period of Congress. Is it easy? No. It’s going to be very complicated. It’s a long shot.”
He further mentioned that the idea was not just speculation but had been communicated to him by senators themselves rather than their staff. “I’ve heard it directly from senators on both sides […] saying they have a strategy to engage the other side and see if there’s a last chance to do it,” Wall explained.
Adrian Wall discusses the CLARITY Act on Chain Reaction. Source: Cointelegraph’s Chain Reaction
The recent setback came in the form of Tuesday’s failed Senate cloture vote, falling short of the 60 votes needed to progress the CLARITY Act. Despite this setback, Wall remains hopeful, stating that if another attempt during the lame-duck session does not succeed, the next Congress could take up the mantle and address the crypto market structure legislation.
As the managing director of the Digital Sovereignty Alliance, a nonprofit organization focused on advocating for digital asset policy, Wall continues to collaborate with lawmakers and regulators on this front.
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