Galaxy Research Director: Rising urgency of CLARITY Bill is closely related to Senate control battle

Galaxy research director Alex Thorn issued a document on the X platform saying that passing the CLARITY bill is currently more urgent, one of the reasons is the extremely fierce competition for control in the U.S. Senate. If Democrats regain control of the Senate, former Senator Sherrod Brown may regain the chairmanship of the Senate Banking Committee; if he fails to win the Ohio Senate election but the Democrats still gain control of the Senate, the committee may be led by Elizabeth Warren. The above-mentioned potential personnel changes may have an important impact on the regulatory direction of the crypto industry, thereby increasing the practical urgency of advancing the CLARITY Act. Note: Elizabeth Warren is not friendly to the crypto industry. She once urged the U.S. Treasury Department to issue strict supporting rules for GENIUSACT and clearly issued guidance prohibiting the use of federal resources such as the Foreign Exchange Stabilization Fund or the Federal Reserve's Emergency Loan Facility to support stablecoins and the crypto industry.