Issue 110 – The Clarity Act collapses

Molly White · 2 Oct 2026

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Our reading
A bill marketed as bringing regulatory clarity to crypto can instead carve the industry out of the scrutiny applied to similar financial products.

Their wordsThe Clarity Act isn't about "clarity" any more than the PATRIOT Act is about patriotism. It promised regulatory structure but would have carved out crypto from the scrutiny applied to similar financial products, instead building a custom regime to allow it to operate without meaningful oversight.
Our reading
Regulatory changes made by an administration can be reversed by its successor, while legislation is far more durable.

Their wordsBut those are changes that can be reversed when Trump leaves office. Legislation is far more durable - which is why the crypto industry so desperately wanted the Clarity Act to lock in deregulation.

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