Cynthia Loomis: The Clarity Act could have brought Binance under regulation

U.S. Senator Cynthia Loomis stated that the CLARITY Act would include Binance as a covered digital asset servicer. The bill retains the effectiveness of existing financial and sanctions laws, providing better tools and faster action. In response to questions from Amanda Fisher, Director of Policy at Better Markets, regarding the bill's effectiveness, Loomis stated that Better Markets' party voted against it. The bill has passed the House of Representatives, but failed to pass the Senate procedural vote on September 15th by a vote of 49 to 50 and is currently stalled.