Clarity Act fails in Senate: Here is how crypto industry is reacting

Alan Konevsky, CEO of tZERO

“The structural shift toward regulated digital asset markets is already underway, and today’s vote falling short doesn’t change that. Other paths are already being explored, with the SEC and CFTC putting out their own proposed rules and agreeing to coordinate jurisdiction over digital assets. Regardless of the regulatory path, institutions will continue to adopt these protocols over legacy market infrastructure because the secure, regulated infrastructure they need already exists today. ”

Frederik Gregaard, CEO of the Cardano Foundation

“While today’s outcome is disappointing, the need for regulatory clarity is as urgent as ever. Clear rules are essential to protecting consumers, unlocking institutional adoption, and reinforcing U.S. financial leadership. We remain at the table and committed to working with lawmakers to get clear rules for innovation across the finish line.” Katherine Kirkpatrick Bos, Head of Legal at Chainlink Labs.

“In Europe, builders at least know the rules of the game under MiCA. The push for Clarity shows Washington knows it has a regulatory gap to close, but builders can’t afford to wait around for the U.S. to get its act together. Blockchain technology will continue to advance because it provides real value beyond any individual crypto price. It looks like the EU is the clearest jurisdiction to do so.”

Abhishek Vaidyanathan, Chief Legal Officer, NEAR