Aave founder: CLARITY Act will be a turning point for DeFi
- —Kulechov: the CLARITY Act will do for DeFi what the GENIUS Act did for stablecoins
- —Section 401 would allow banks to provide custody, staking and lending of digital assets
- —The 635-page bill passed the Senate Banking Committee by 15 votes to 9
- —Aave has lobbied for the law in Washington for more than a year
Why it matters: Federal rules and bank access to DeFi could sharply expand capital in the sector, but the outcome of the September 15 vote is not yet guaranteed.
Source: Crypto Briefing