CLARITY Act hearing live: The next cryptocurrency crash will definitely be bigger. We should prohibit federal agencies from bailing out the crypto industry to prevent American taxpayers from footing the bill.
According to Odaily, the "Cryptocurrency Market Structure Bill" (also known as the CLARITY Act) has begun review in the U.S. Senate Banking Committee. Democratic Senator Tina Smith stated that Bitcoin has shrunk by nearly one-third since reaching its all-time high last year, and Ethereum has dropped by more than half from its peak. These are just the two major assets in the crypto market. Nearly $2 trillion in crypto asset value has evaporated, and it is almost certain that the next crash will be even larger than the last. Therefore, the purpose of this amendment is simple: to prohibit federal agencies from bailing out the crypto industry, thus avoiding U.S. taxpayers footing the bill.
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