Industry experts also believe the move could influence future digital asset policy discussions in India and other major markets.
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Dado Ruvic
Crypto industry executives have hailed the progress of the CLARITY Act in the US Senate as a significant step toward resolving long-standing regulatory ambiguity around digital assets, with many saying the move could boost mainstream adoption and influence policy discussions in India and other global markets.CLARITY Act aims to define crypto regulation frameworkThe CLARITY Act, also known as the Digital Asset Market Clarity Act, is a proposed US cryptocurrency regulation bill that establishes a clear legal framework for digital assets by defining when cryptocurrencies are treated as securities by the SEC and as commodities by the Commodity Futures Trading Commission (CFTC).The bill seeks to reduce long-standing regulatory ambiguity in the crypto sector while introducing provisions around investor protection, disclosures, compliance, and anti-fraud safeguards. On Thursday, the Republican-led US Senate Banking Committee advanced it in a bipartisan 15-9 vote. However, it has not yet become law and still requires approval from the full Senate, reconciliation with the House version, and presidential assent.Nischal Shetty, Founder, WazirX, explained that for years, exchanges operating in the US had been confused about which regulator they answered to.“Both the SEC and the CFTC claimed authority over the same assets, with no clear boundary between them. Platforms caught between them could not build products with confidence. Institutions stayed out. That held the market back, and not lack of interest. When platforms can operate inside a defined framework, users get better products and more institutional participation. Exchanges stop spending legal budget on jurisdictional ambiguity and start spending it on the product,” he stated.Industry leaders see boost for global crypto adoptionJohn O’Loghlen, Head of APAC for Coinbase, commented that the Act is a win for clear rules that will benefit banks, the crypto industry, and end users.“For the first time, the US is on the cusp of implementing a workable framework that defines what digital assets are, who regulates them, and what rights and protections consumers have. This will provide the foundation necessary for the next generation of financial innovation. With the US joining markets like Singapore and the EU in establishing regulatory clarity, we expect this to turbocharge cross-border regulatory cooperation and accelerate commercial development at the frontier of financial innovation,” O’Loghlen said.He added that India has the fundamental ingredients of one of the largest retail crypto user bases and one of the fastest-growing on-chain developer ecosystems in the world. As these global frameworks take shape, India has a real opportunity to participate in the regulatory dialogue.India seen as key market in evolving crypto ecosystemMeanwhile, Vikaas M Sachdeva, CEO of BitDelta India, said the digital asset industry was entering a phase where accountability and long-term legitimacy were becoming as important as growth.He noted that the advancement of the CLARITY Act by the U.S. Senate Banking Committee is an important signal in that direction for digital assets globally.Sachdeva observed that India already has strong participation, a rapidly evolving compliance framework, and one of the world’s most digitally active investor bases. The next phase for the industry globally will be shaped by how effectively markets build trust around the asset class.Published on May 15, 2026
