CLARITY Act hopes dim as BitMEX shuts down amid looming lawsuit

The Clarity Act, a US bill aiming to regulate decentralized finance, appears to be losing support despite backing from major firms. At the same time, BitMEX, a well-known crypto derivatives exchange, has shut down its operations as it faces a lawsuit, triggering market uncertainty.

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The Clarity Act, a U.S. bill aimed at regulating decentralized finance, is losing momentum despite backing from major institutions such as Goldman Sachs, Fidelity, and law enforcement bodies. The act's chances of passage are dimming, according to recent reports. Meanwhile, cryptocurrency derivatives exchange BitMEX has announced it will shut down its operations as it faces a looming lawsuit. The closure marks a significant shift in the crypto landscape, with consolidation moving toward five major players. Market uncertainty has increased as traders assess the impact of regulatory pressures and exchange closures on liquidity and risk appetite.