00:00Clarity Act, Four Paths to Clarity
00:05Congress can pass a law directly, and that's the path that just played out.
00:10The Senate needed 60 votes to invoke cloture and move the Clarity Act forward, and it fell short, 49 to
00:1750.
00:18Republican negotiator Cynthia Lummies said Republicans had moved substantially on every front,
00:24while in her view Democrats have not budged an inch.
00:28Senator Elizabeth Warren's official committee statement took the opposite side,
00:33calling the bill's protections inadequate and saying it should be dead on arrival.
00:38Beyond Congress, regulators can also move on their own Coinbase CEO Brian Armstrong,
00:45noted that the SEC and CFTC have said they're ready to publish their own rulemaking, regardless of the bill's fate.
00:53Enforcement is a third path.
00:55Regulators can bring cases that test how existing law applies to specific tokens or platforms,
01:02shaping the boundary case by case.
01:04And when regulators and industry disagree, courts provide a fourth path,
01:09ultimately deciding disputed questions through litigation.
01:14Full recap, tap the related video.
01:16Full recap, tap the related video.
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