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David Sacks, President Donald Trump’s Director of Cryptocurrency and Artificial Intelligence, said the probability of the market structure law being prepared for the cryptocurrency market passing has reached its highest level ever.
Sacks argued that the crypto sector should use the current “buffer period” to resolve remaining disagreements, stating that this is the best time to secure the sector’s future.
Sacks stated that clarifying industry regulations is critical for both investor protection and long-term growth. He added that the White House, along with Senate Banking Committee Chairman Tim Scott, committee members, and industry stakeholders, continues to work towards the swift passage of bipartisan legislation to regulate the structure of the crypto asset market.
As previously reported, Coinbase, a major supporter of the law, had opposed the current draft of the CLARITY Act. Following this development, the Senate Banking Committee canceled its hearing to discuss amendments to the CLARITY Act. The date for this hearing has not yet been determined.
*This is not investment advice.