CLARITY Act Senate Failure Benefits Banks and Dubai, Analysts Say
- —Without federal law, banks face no stablecoin competition for deposits
- —UAE hosts over 110 regulated virtual asset firms, more applications pending
- —The bill would have unified rules for stablecoins, custody and exchanges
- —Firms are shifting to jurisdictions with clear licenses: Dubai, Singapore, Switzerland
Why it matters: The legislative deadlock cements US regulatory fragmentation and accelerates the migration of capital and teams to jurisdictions with enforceable rules.
Source: Crypto Economy
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