Coinbase: after CLARITY Act failure, SEC and CFTC will shape crypto policy
- —The CLARITY Act failed its final vote in the U.S. Senate
- —Coinbase linked the failure to the electoral cycle and a $200 million bank campaign
- —Coinbase's CPO expects the initiative to shift to the SEC, CFTC, and banking regulators
- —A three-pronged strategy was proposed: legislation, regulation, international coordination
Why it matters: Without market legislation, the SEC and CFTC will set crypto rules through guidance and enforcement, increasing uncertainty for exchanges and tokens.
Source: Digital Today