Washington’s push for a federal crypto rulebook reignited a long-running industry debate over what “regulatory clarity” actually delivers and who it helps.At the...

Washington’s push for a federal crypto rulebook reignited a long-running industry debate over what “regulatory clarity” actually delivers and who it helps.At the center of the debate is H.R. 3633, the Digital Asset Market Clarity Act of 2025, a bill that supporters present as a long-awaited replacement for years of regulation by enforcement.The legislation is designed to clarify boundaries around digital assets, define oversight responsibilities, and establish a framework for how tokens and intermediaries are treated under federal law.But as the bill moves through Washington, it is producing two sharply different readings of what happens next.Cardano founder Charles Hoskinson has attacked the proposal as a “horrific, trash bill,” arguing that it would make new...

Washington’s push for a federal crypto rulebook reignited a long-running industry debate over what “regulatory clarity” actually delivers and who it helps.At the center of the debate is H.R. 3633, the Digital Asset Market Clarity Act of 2025, a bill that supporters present as a long-awaited replacement for years of regulation by enforcement.The legislation is designed to clarify boundaries around digital assets, define oversight responsibilities, and establish a framework for how tokens and intermediaries are treated under federal law.But as the bill moves through Washington, it is producing two sharply different readings of what happens next.Cardano founder Charles Hoskinson has attacked the proposal as a “horrific, trash bill,” arguing that it would make new...