Odaily Planet Daily reports that the imprisoned FTX founder Sam Bankman-Fried (SBF) recently publicly expressed support for the U.S. cryptocurrency regulation bill, the “CLARITY Act,” but this stance has been jointly opposed by Democratic and Republican senators.
SBF stated on social media that the “CLARITY Act” will be a significant milestone for the crypto industry and mentioned that he previously promoted similar legislation to limit the Securities and Exchange Commission’s regulatory power over cryptocurrencies. In 2022, he supported the Digital Commodity Consumer Protection Act (DCCPA), but progress was halted after FTX’s collapse and his arrest.
In response, Republican Senator Cynthia Lummis publicly said, “We don’t need or want your support.” Democratic Senator Elizabeth Warren also opposed SBF’s statement, showing rare bipartisan agreement on this issue.
Currently, SBF, who was sentenced to 25 years in prison for embezzling customer funds and other charges, is appealing and continues to post comments on social media, many of which express support for Trump administration policies. This has been interpreted as an attempt to seek a presidential pardon. However, the White House has previously stated that Trump has no plans to pardon SBF. The “CLARITY Act” aims to establish a comprehensive regulatory framework for the crypto industry and clarify the division of regulatory responsibilities between the SEC and the CFTC. Although the House has passed related legislation, the Senate’s legislative process still faces disputes over stablecoin yield rules and potential conflicts of interest.
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