Hello and welcome to Regulator , the newsletter for Verge subscribers that goes into tech shenanigans that take place in the backrooms of Washington. Really, it sometimes does feel like the online series The Backrooms : a parallel universe with no internal logic, evil corporations lurking in the background, and mind-rending eldritch horrors around every corner. (Not a subscriber yet? Sign up here today . Have any tips about mind-rending eldritch horrors lurking in DC? Send that intel to me at [email protected] .)

Speaking of liminal spaces and endless hallways that drive their inhabitants insane: Today, we’re going to Capitol Hill, where the Senate is, at long last, finally revisiting the crypto market structure bill known as the Clarity Act.…