On February 27, news reports stated that Sam Bankman-Fried, who is serving time for the FTX collapse case, recently posted on social platform X, publicly supporting the proposed CLARITY Act, calling it “an important milestone in the crypto space” and attributing it to Trump’s policy push. This statement quickly sparked a backlash in U.S. politics.
Sam Bankman-Fried said that he had advocated for similar legislation before his indictment, aiming to limit the regulatory authority of former Gary Gensler. He also hinted that regulatory actions are related to political factors, once again touching on whether his case is subject to political interference.
Responses from both parties were very direct. Cynthia Lummis pointed out that some “try to seek amnesty” without realizing that the CLARITY Act could lead to harsher legal consequences. She emphasized that her push for crypto market structure reform is entirely different from the lobbying efforts in 2022 and straightforwardly stated that she does not need the other’s endorsement.
Elizabeth Warren also warned that Sam Bankman-Fried’s support itself is a risk signal. She reiterated that crypto regulation legislation must focus on investor protection and financial stability, not on relaxing enforcement boundaries.
Amid the ongoing fallout from FTX’s multi-billion dollar bankruptcy, discussions around the regulatory framework for the crypto market in the U.S. are becoming increasingly intense. The CLARITY Act, as a potential reform plan for the crypto market structure, is caught in highly politicized battles. Sam Bankman-Fried’s comments not only failed to reshape his image but also made the legislative environment for the bill more complicated.
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
The first list of "Stablecoin Licenses" in Hong Kong is about to be announced! Rumors suggest they will go to HSBC, Standard Chartered, and OSL.
Hong Kong's first batch of "Stablecoin Issuer License" list will be announced next week. The three main applicants are HSBC, Standard Chartered Bank, and virtual asset platform OSL. This licensing round may favor banks due to their capital strength and regulatory advantages, while OSL possesses rich practical experience. Although rumors suggest the main list is finalized, the actual situation may still change.
区块客11m ago
US Crypto Regulatory "Civil War" Ceasefire: SEC and CFTC's Decade-Long Power Struggle Reaches a Turning Point
The U.S. cryptocurrency industry has long faced regulatory confusion, primarily reflected in the determination of crypto asset classification and the division of regulatory authority. Divergences between the SEC and CFTC have created multiple regulatory challenges for enterprises. Recently, the two agencies signed a memorandum of understanding to begin coordinating efforts to resolve regulatory conflicts and promote the establishment of an adaptive regulatory framework, aimed at forming a comprehensive digital asset regulatory system. This marks a gradual clarification of rule-making in America's digital finance era.
PANews55m ago
SEC and CFTC Sign MOU to Align Crypto Oversight Rules
SEC and CFTC signed an MOU to coordinate crypto oversight and align regulatory frameworks across digital asset markets.
Agreement supports data sharing, joint enforcement coordination, and clearer guidance for crypto firms.
Initiative links to the Harmonization plan and CLARITY Act
CryptoFrontNews1h ago
HSBC and Standard Chartered Expected to Receive Hong Kong’s First Stablecoin Licenses
HSBC and Standard Chartered are set to receive Hong Kong's first stablecoin licenses, supporting the region's aim to become a regulated global crypto hub. This move aligns with the HKMA's initiative to create a controlled digital-asset ecosystem.
TheNewsCrypto2h ago
Illegal Amazon Gold Deals in Venezuela Settled With USDT
Venezuela is emerging as a key hub for illegal gold trade from the Amazon, with transactions increasingly conducted in USDT due to its speed and ease. This shift complicates tracking efforts and is linked to criminal activities, environmental damage, and international sanctions.
Coinfomania2h ago
Hong Kong Stablecoin Regulation Enters Implementation Stage: HSBC and Standard Chartered Bank May Be First to Obtain Stablecoin Issuance Licenses
HSBC and Standard Chartered are expected to become the first institutions in Hong Kong to obtain stablecoin issuance licenses, marking the imminent launch of Hong Kong's stablecoin regulatory framework. The new regulations require stablecoin issuers to obtain approval and comply with strict management requirements. The approval of both banks will drive traditional financial institutions' participation in blockchain payments and strengthen digital asset compliance.
GateNews4h ago
