CLARITY Act delay opens door for Asian hubs: First Digital CEO

Maylea Ma, deputy general counsel at decentralized exchange aggregator 1inch, warned that failure to enact the legislation could push the industry back toward “regulation by enforcement.” Market participants would depend on agency interpretations, case-by-case enforcement and a fragmented set of state money transmitter and securities rules, she said. Ma contrasted that uncertainty with the European Union, where the Markets in Crypto-Assets Regulation (MiCA) is already in force. She said 1inch would continue operating under its conservative, non-custodial model while waiting for greater legal certainty in the US.

Wellington-Altus chief market strategist James E. Thorne called the postponement a “fold” by Thune and a win for Senator Elizabeth Warren and the regulatory status quo. “Regulation should have been passed years ago,” he wrote on X. “Instead, Washington chose to live in ambiguity, letting Warren and the bank lobby weaponise uncertainty, the SEC and the Fed went along for the ride, and now Thune is keeping the CLARITY Act stuck in procedural limbo.”

Thune’s office did not respond to a request for additional comment on the timeline. The bill is expected to resurface after Labor Day.