After years of regulating crypto largely through lawsuits and overlapping agency claims, the United States has finally moved closer to a formal market structure framework.

The passage of the CLARITY Act would place the US alongside jurisdictions such as the European Union, Singapore, the UAE, and Hong Kong, all of which already operate under dedicated crypto regulatory regimes.

Read our full explainer for a detailed breakdown of the CLARITY Act and how it could reshape US crypto regulation.

But while the legislation would represent the biggest shift in US crypto policy in years, the comparison also shows how much ground Washington still needs to cover before it reaches the level of operational clarity already seen elsewhere.

Senator…