Coin Center: If the Claritism Act stalls, the US may suppress the crypto industry without clear rules in the future.

CoinFeed reported on March 29th, citing Cointelegraph, that Coin Center Executive Director Peter Van Valkenburgh warned that if the CLARITY bill, a crypto market structure, fails to pass, a future US government unfriendly to the industry could suppress it without clear rules. He stated that the significance of legislation lies in constraining the next administration, and the lack of legal protection will expose the industry to the risks of prosecutorial discretion and political dictates. The CLARITY bill is stalled in the Senate due to banks, crypto companies, and lawmakers failing to reach an agreement on key terms such as stablecoin yields. Van Valkenburgh pointed out that if the current legislative window is missed, the Department of Justice may increase prosecutions against privacy tool developers, and existing regulatory guidelines may be withdrawn.