As students, we have become increasingly aware that a new digital age is upon us. In passing, we are exposed to echoes of buzzwords like “cryptocurrency,” “blockchain technology,” and even the elusive Bitcoin. These terms, which we believe are reserved for tech billionaires, business owners, and government officials, actually are becoming mutually exclusive to us as individuals. Understanding how to navigate them could be vital in navigating our modern workforce and digital financial system. It is common to see online discourse on the latest crypto fad or how to strike gold with the next big digital medium; however, another key component we must address is regulation.
Since the creation of blockchain technology in the early 2000s, there have been only four attempts to regulate the digital market. For those unfamiliar, blockchain technology is essentially a code that uses cryptography to verify digital transactions on a public ledger. Cryptocurrency is simply digital monies. The cryptocurrency and stablecoin markets have only recently found success in passing such regulations, and to this day, the United States has yet to establish clear rules for the border space of digital assets. Because of this, the digital space has become flooded with user misinformation and scams.
To tackle this problem, the CLARITY Act was created, which, if signed into law on Tuesday, Sept. 15, 2026, would also influence how future financial and technological companies operate.
Proponents of CLARITY aim to attach a clearer set of ethics and guidelines to the ever-growing diaspora of digital assets. It will do so by defining and classifying them into categories, primarily in how companies and individuals hold cryptocurrency on their balance sheets. It also seeks to increase government oversight to eliminate fraud by requiring tech and financial companies to increase user transparency and mitigate attempts to launder money, a common thread of past crypto scams. Market integrity and user protection are at the root of what this proposal hopes to accomplish.
Online gaming, digital payment sites such as Venmo and PayPal, investing, and future jobs in finance will all have to adhere to these guidelines, impacting the creation of companies in the digital age. As we get older, graduate, and begin to enter the workforce, many modern-day companies and digital money websites will use these rules as a precedent. Additionally, CLARITY can create outlets for ways individuals can manage and hold their wealth using digital money. Employers may require knowledge of how to navigate different digital platforms, and our entrepreneurs will need to understand how to apply digital knowledge to fundraise and increase competitive strategy. Companies may even begin to allocate payments using stablecoin transactions.
The United Kingdom and South Korea have initiated legislation following the GENIUS and the pending CLARITY acts, drawing heavy inspiration from how the pioneering U.S. aims to regulate digital goods. Seeing that the implications of digital rules span continents validates the global shift towards digital assets and the desire to make them accessible to all. Embracing the digital world is an important stride towards financial longevity, and it has only just begun.