CLARITY Act Could Become Law by May, Says Former House Financial Services Chair

The CLARITY Act, a proposed U.S. crypto market structure bill, is anticipated to be signed into law by the end of May, according to former House Financial Services chair Patrick McHenry. According to NS3.AI, the legislation seeks to address decentralized finance (DeFi) and stablecoin regulations, aiming to resolve ongoing disputes regarding cryptocurrency classifications and interest payments on stablecoins. Political parties remain divided over the bill, with Democrats advocating for stricter regulations, while Republicans are working towards a compromise with the White House.