The markup session for the CLARITY Act just heated up as a major compliance platform withdrew its support, throwing the regulatory debate back into focus. The tension is real: policymakers want 'clear rules,' but industry players worry those same rules could stifle technological advancement and competitive edge.

A leading exchange executive made it plain—their stance is firm. The current bill framework doesn't cut it. According to their position, no legislation beats a flawed one that handcuffs the sector's ability to innovate. This "all or nothing" approach signals how far apart the two sides still are when it comes to balancing regulatory clarity with operational flexibility.