Stop Acting Like the CLARITY Act Is Everything, Former Regulator Says
Crypto's most prominent former regulator wants the industry to stop treating the CLARITY Act as make-or-break. Chris Giancarlo, who chaired the Commodity Futures Trading Commission from 2017 to 2019, says the technology gets built either way.
Giancarlo still wants the bill passed. However, he argues the industry has staked its public message on legislation that has sat idle in the Senate for 80 days.
The CLARITY Act Is Not a Precondition
Speaking in a recent interview, Giancarlo said the sector has overcommitted to one piece of legislation.
"Now, what I'd say to the industry is perhaps it's time to stop making such a big deal out of CLARITY," he said.
The timeline explains the anxiety. The House passed H.R. 3633 on July 17, 2025, by 294 votes to 134. The Senate Banking Committee advanced it 15-9 on May 14, 2026.
No floor vote has followed. The Senate calendar sends the chamber home from August 10 until September 11, leaving roughly one week of floor time.
Giancarlo pointed to an older technology as precedent.
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