The review of the Crypto Market Structure Act (also known as the CLARITY Act) has begun in the U.S. Senate Banking Committee, with Senator Elizabeth Warren stating that the bill “is just not ready.” In her opening remarks, she criticized that American citizens are currently facing real pressures such as rising costs for food, utilities, and healthcare, and that Congress should prioritize issues like lowering the cost of living and capping credit card interest rates rather than “spending time on a bill written by the crypto industry for its own benefit.” She also cited a poll showing that only 1% of 1,000 registered U.S. voters considered cryptocurrency the most important issue before the 2026 election, suggesting that crypto regulation is not a current priority for voters. Additionally, Warren called for a more comprehensive debate and revision of the CLARITY Act, noting that it still contains numerous unresolved concerns regarding enforcement, anti-money laundering, and other regulatory issues.
Senator Elizabeth Warren Criticizes the CLARITY Act as 'Not Ready'
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Summary
Senator Elizabeth Warren criticized the CLARITY Act as "just not ready" during a Senate Banking Committee hearing, arguing that Congress should prioritize CFT measures and rising consumer costs instead. She noted that the bill favors crypto interests over public needs and cited a poll in which only 1% of voters ranked crypto regulation as a top priority. Warren called for further debate to address gaps in liquidity and crypto markets, AML enforcement, and other key risks.
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