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U.S. Representative McHenry Endorses CLARITY Act as Next-Generation Telecoms Law

GateNews
According to a16z crypto, U.S. Representative Patrick McHenry published an article comparing the cryptocurrency market structure legislation CLARITY Act to the 1996 Telecommunications Act. McHenry argued the bill represents a rare proactive financial reform opportunity in nearly 30 years, breaking away from the post-2008 crisis-driven regulatory mode. He stated that while the existing securities laws are often cited as sufficient, market participants seek regulatory clarity rather than opposition to regulation. McHenry emphasized that passage of CLARITY Act would provide regulatory certainty for the digital asset industry, protect consumers and investors, and equip enforcement agencies to combat fraud. He highlighted that other nations are advancing their own digital asset regulatory frameworks, suggesting capital and innovation will flow toward markets with clear rules.
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