Coinbase Says the Clarity Act Is Gaining Serious Steam in the Senate — Here's What That Means for Crypto

WHY IT MATTERS

Imagine trying to run a business but nobody can tell you which rules apply to you — that's essentially what it's been like for many crypto companies in the U.S. The Clarity Act is a proposed law that would finally spell out how different types of cryptocurrencies should be regulated, much like how traditional financial products have clear rules. If it passes, it could make it safer and easier for everyday people and big companies alike to participate in crypto, because everyone would finally know the 'rules of the road.' The fact that it's gaining support in the Senate — one of the two chambers of Congress that must approve it — is a big deal because it means lawmakers are getting closer to actually making these rules official.