Economist criticizes Clarity Act extension: America or losing leadership in encryption

Economist James E. Thorne wrote on platform X that John Thune, the leader of the United States Senate majority, had postponed the vote on Clarity Act to September, implying that the progressive opposition to innovation had once again prevailed. According to Thorne, the signal from the delay is that preserving the current pattern of interests remains more important than ensuring the leadership of the United States in the next generation of monetary and financial structures. The bill continues to be delayed and law enforcement fills a gap that should have been covered by the law, with the eventual result that the United States may not have a leading position in the encryption industry. Innovation will flow overseas, while the rest of the world continues to move forward under clearer regulatory regimes, while the United States ' own innovation system is trapped in grey areas and future financial standards may be set elsewhere。