Main takeaway: The Clarity Act may fail to meet industry needs because its ethics clause bans some federal officials from issuing crypto tokens, a key Democratic plank, and Trump’s past support complicates passage. Senate leader John Thune says it won’t pass before September; Democrats controlling Congress could delay action until 2029. The bill still allows capital-raising deals to be treated as securities but won’t automatically classify base tokens as securities. Success depends on clear rules, coordinated regulators, and real fraud enforcement.
币界网消息，Aaron Brogan分析了Clarity Act可能未能满足行业需求的原因。该法案的“伦理”部分受到广泛争议，禁止某些联邦官员在任期内发行加密货币代币，这一条款长期以来是民主党加密议程的基石。由于特朗普总统历史上支持发行加密货币代币，法案的通过面临挑战。参议院多数党领袖约翰·图恩表示，该法案在九月之前不会通过，若民主党赢得国会，预计在2029年前不会有法案出台。尽管如此，Clarity Act仍然承认资本筹集交易可以涉及证券法，而不自动将基础代币视为证券。该法案的成功将依赖于明确的规则、协调的监管机构和对欺诈的真正执法。