Warren says the CLARITY bill could blow up the U.S. economy

Senator Elizabeth Warren is raising concerns that the CLARITY bill, which is currently being considered by the Senate, could destabilize the U.S. economy. Warren believes the bill could allow companies to bypass regulation from the Securities and Exchange Commission (SEC) by using blockchain technology, potentially impacting the New York Stock Exchange (NYSE) and overall financial stability. The concern is that companies like Amazon or Meta could move their stock to a blockchain and avoid SEC oversight, leading to unregulated fundraising and less investor protection. Ripple CEO Brad Garlinghouse points out that over 55 million Americans are involved in the crypto economy, which has a $3.4 trillion market cap, emphasizing the need for regulation. The CLARITY Act has passed House committees and is awaiting Senate approval. Separately, the House also passed the GENIUS Act and the Anti-CBDC Surveillance State Act, with President Trump expecting them to be signed into law after Senate approval. These bills address concerns about central bank digital currencies and aim to prevent financial surveillance.