Policy advocate suggests CLARITY Act may return for lame-duck consideration
Bipartisan senators are exploring the possibility of bringing the CLARITY Act back for consideration during the lame-duck session, policy advocate Adrian Wall reports.
Despite this week's Senate setback, the CLARITY Act may receive a second opportunity during the lame-duck congressional session following the election, according to Adrian Wall, managing director of the Digital Sovereignty Alliance.
During comments made Wednesday, Wall revealed he has engaged in direct conversations with senators across party lines who are exploring the prospect of making another push for the cryptocurrency market structure legislation prior to the conclusion of the current congressional term.
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.
Adrian Wall
Wall emphasized that the information came directly from senators themselves, not from their congressional staff members.
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.
Adrian Wall
These remarks come on the heels of Tuesday's unsuccessful Senate cloture vote, where the CLARITY Act fell short of securing the 60 votes necessary to advance to the next stage.
Characterizing Tuesday's voting outcome as a "huge blow," Wall nevertheless maintained that this development does not necessarily spell the complete demise of the proposed legislation. Should efforts during the lame-duck session prove unsuccessful, Wall indicated that the incoming Congress has the option to "pick up the pen" and continue work on cryptocurrency market structure legislation.
As a nonprofit advocacy organization, the Digital Sovereignty Alliance collaborates with both lawmakers and regulatory authorities on matters concerning digital asset policy.