Clarity Act has stalled in the Senate and industry organizations are concerned about the deletion of article 604

Clarity Act remains in the Senate one week after its adoption by the United States House of Representatives. Coin Center and Blockchain Association see Article 604 as key provisions for the protection of open-source innovation. Stefan Muehlbauer, the head of United States government affairs in Certik, stated that the deletion of section 604 mixed software development with financial services and made the developers subject to the Bank Secrecy Act. OpenPayd CEO Iana Dimitrova indicated that the need for a federal regulatory framework was made clearer by the expansion of the transfer of stable currency across borders. The bill deals with accounting standards and recognizes that the SEC Staff Accounting Bulletin SAB 121 has been withdrawn. According to GoMining CEO Mark Zalan, bitcoin still faces regulatory gaps such as tax processing。