Crypto Leaders Slam ‘Gensler-Era’ Clause in High-Stakes CLARITY Act

• Crypto firms reject removal of past token exemptions in new draft
• Stakeholders say provision tied to Gensler’s past SEC enforcement style
• Congress aims to pass CLARITY Act before August deadline

Crypto stakeholders slammed a controversial provision in the CLARITY Act hours before a House markup. The section under dispute seems to reflect previous SEC administration’s policies, which created concerns about classification of tokens. Industry leaders claim the measure conflicts the Act’s main goal of clear digital asset regulation.