Crypto Market Structure Bill Faces Protracted Implementation Timeline
Paradigm's Justin Slaughter warns that the CLARITY Act, a pivotal crypto market structure bill, may require years to fully implement despite legislative progress. The Senate Banking Committee's upcoming markup signals momentum, but 45 required rulemakings could stretch the process beyond two presidential terms.
"This isn't legislation that flips a switch," Slaughter observed, drawing parallels to the Dodd-Frank Act's multi-year implementation. Regulatory bodies must navigate complex coordination to publish proposals, incorporate feedback, and finalize rules—a process that could leave crypto markets in regulatory limbo.
The bill's fate underscores the tension between rapid crypto innovation and deliberate regulatory processes. Market participants await clarity on whether the framework will foster innovation or create operational hurdles for digital asset firms.
