Regulation· ★★★· bearish·

CLARITY Act failure could bring intermediaries back to crypto, GenLayer CEO says

  • —Senate voted 50–49 against starting debate on the CLARITY Act, 10 votes short of 60
  • —Castellana: companies will respond with custodians, permissioned frontends and admin keys
  • —GENIUS Act regulates stablecoin issuance but not DeFi, wallets and trading
  • —Bitwise CIO Matt Hougan called the failed vote a 'speed bump, not a block'
Why it matters: Without legislation, rules remain with the SEC and CFTC, increasing the risk of centralized access to DeFi for U.S. users.
Source: crypto.news
More on this
Regulation · 02:08
TD Cowen sees little demand for tokenized stocks despite SEC's new trading rules
 Regulation · 01:38
Russia Prepares Legal Crypto Framework by Year-End, Sberbank to Launch Custody in December
 Regulation · 01:37
Lummis: CLARITY Act includes false-disclosure liability, but Democrats still opposed it