THORChain has launched a recovery portal for affected users, allowing claims for refunds until June 4. After this date, any unclaimed funds will be transferred to the protocol’s insurance fund. This initiative comes amid ongoing discussions in the U.S. Senate regarding the CLARITY Act, which seeks to regulate the crypto industry but faces hurdles due to Democratic concerns over potential conflicts of interest involving elected officials and their ties to crypto.
The Senate Banking Committee has advanced the bill with bipartisan support, yet the lack of stronger ethics provisions may jeopardize its passage. Democrats are particularly wary of associations with figures like former President Trump, which could complicate the bill’s journey to a full Senate vote. Meanwhile, Poland has taken a significant step by approving a government-backed crypto regulation bill that aligns with the EU’s MiCA framework, granting oversight powers to the Polish Financial Supervision Authority.
Market professionals should monitor these developments closely, as regulatory clarity in both the U.S. and Europe could significantly impact crypto asset valuations and investor sentiment.
Source: cointelegraph.com