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.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
U.S. House Republicans Reject Bundling Housing Bill with Cryptocurrency Legislation
House Republicans rejected the Senate's legislative deal proposal, which attempted to combine a community bank deregulation bill with a cryptocurrency bill in exchange for support for a housing affordability bill. The House Financial Services Committee expressed skepticism about this approach and hopes that the Senate will also adopt the House's housing proposal.
GateNews32m ago
CFTC Establishes Task Force to Advance Regulatory Framework for Crypto and AI
The CFTC has established the Innovation Task Force (ITF) to create a clear legal framework for emerging derivative markets including crypto and AI. Led by Michael J. Passalacqua, the ITF aims to ensure responsible innovation while addressing regulatory challenges and public concerns about prediction markets and insider trading.
TapChiBitcoin1h ago
U.S. CFTC Establishes Innovation Task Force Focused on Regulatory Rulemaking for Crypto Assets and Other Areas
Jinse Finance reported that CFTC Chair Michael S. Selig announced the establishment of an Innovation Working Group focusing on crypto assets, blockchain, artificial intelligence, and other fields, aimed at establishing clear regulatory rules for the U.S. derivatives market and coordinating with relevant federal agencies.
金色财经_2h ago
CFTC chief launches innovation task force focused on crypto framework
The CFTC is establishing an Innovation Task Force to enhance its crypto and blockchain regulation, led by Michael Passalacqua. The initiative aims to provide a platform for dialogue among innovators on crypto, AI, and prediction markets.
Cointelegraph6h ago
ECB: Stablecoins and Tokenized Deposits Must Use Central Bank Money as Settlement Anchor
European Central Bank Executive Board member Cipollone pointed out that stablecoins and tokenized deposits need to be anchored on tokenized central bank money for settlement to achieve scalability in tokenized financial markets. The DLT settlement project Pontes, expected to launch in 2026, and the Appia plan before 2028 will advance the construction of Europe's tokenized finance ecosystem. He warned of the risks of lacking a unified legal framework.
金色财经_9h ago
US CFTC Chairperson Announces Establishment of "Innovation Task Force" to Define Regulatory Guidelines for Crypto Assets, AI, and Prediction Markets
U.S. CFTC Chair Michael S. Selig announced the establishment of an "Innovation Task Force" that will work with the Innovation Advisory Committee to develop regulatory frameworks for crypto assets, AI automated systems, and prediction markets to promote fintech innovation and ensure U.S. market participants are not excluded. The task force will coordinate with the SEC's crypto task force to address overlapping regulatory issues.
動區BlockTempo9h ago
