The banks lobbying against the Clarity Act need it more than the crypto industry does
Strangely, even though the banks seem to be the ones opposing the Clarity Act, they need it way more than anyone who’s been in crypto. Coinbase is offering yield, Genius effectively allowed them to do that, because they’re not the issuer. You’ve been providing all these services for over a decade. Right now it’s a lot harder for BNY Mellon and JPMorgan and State Street to participate without the Clarity Act but they’re the ones who seem to be lobbying against it, on these smaller issues they have with it.
#ClarityAct #Crypto #Regulation #Banking #Policy
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