Paradigm’s Justin Slaughter Calls CLARITY Act Dead, Outlines House Democrats’ Crypto Bill
By Unchained
AI summary of the source article
Paradigm senior advisor Justin Slaughter stated that the CLARITY Act is dead and will not pass in the lame-duck session. House Financial Services staff are reportedly drafting an alternative bill featuring stricter DeFi rules and increased SEC oversight.
Why it matters
Slaughter warned that "parts of that 20% are what they really care about" and DeFi "needs to be watching this very closely" as Democrats write the bill.
Key facts
- Justin Slaughter stated the CLARITY Act will not pass in the lame-duck session and appears dead.
- House Financial Services staff are reportedly drafting a bill featuring stricter DeFi rules, government ethics requirements, and a jurisdictional shift from the CFTC to the SEC.
- Under the GENIUS Act stablecoin law, the OCC is the only agency that has finalized rules so far.
Source excerpt · Unchained
Slaughter said the bill House Financial Services staff are reportedly drafting could add stricter DeFi rules and move more of the industry from the CFTC to the SEC, and that DeFi "needs to be watching this very closely." The post Paradigm’s Justin Slaughter Calls CLARITY Act Dead, Outlines House Democrats’ Crypto Bill appeared first on Unchained .