⚠️ The law on CLEARITY is under threat: are the Democrats preparing a hard blow to the crypto market?
After their intermediate election victory, Democrats in the U.S. Congress intend to seriously rewrite the long-suffering CLARITY Act. And judging by the incoming insides, the cryptocurrency industry will have to get nervous again.
The main risk of the new bill is the redistribution of powers in favor of the SEC (Securities and Exchange Commission) to the detriment of the CFTC.
What exactly is being discussed and how does it threaten the market?
🛡 Tightening of rules for exchanges and custodians: The new edition can return strict requirements for withdrawal of funds, monthly checks of Reserves (Proof of Reserves) and protection of investors' rights according to the patterns of congresswoman Maxine Waters initiatives.
⚖️ Pressure on DeFi: Decentralized finance may come under attack - developers and protocols will try to force them to comply with traditional regulatory standards for intermediaries.
🏛 Focus on compliance and ethics: The document also touches on strict ethical frameworks and reporting requirements for officials.
What does it mean for us?
If the bill in this form gets the green light after the change in the balance of power in Congress, the American crypto market will have to face stricter centralized control. Although institutional tokenization and infrastructure development continue, regulatory uncertainty may again slow down innovation within the United States.
$BTC $BNB $ETH
After their intermediate election victory, Democrats in the U.S. Congress intend to seriously rewrite the long-suffering CLARITY Act. And judging by the incoming insides, the cryptocurrency industry will have to get nervous again.
The main risk of the new bill is the redistribution of powers in favor of the SEC (Securities and Exchange Commission) to the detriment of the CFTC.
What exactly is being discussed and how does it threaten the market?
🛡 Tightening of rules for exchanges and custodians: The new edition can return strict requirements for withdrawal of funds, monthly checks of Reserves (Proof of Reserves) and protection of investors' rights according to the patterns of congresswoman Maxine Waters initiatives.
⚖️ Pressure on DeFi: Decentralized finance may come under attack - developers and protocols will try to force them to comply with traditional regulatory standards for intermediaries.
🏛 Focus on compliance and ethics: The document also touches on strict ethical frameworks and reporting requirements for officials.
What does it mean for us?
If the bill in this form gets the green light after the change in the balance of power in Congress, the American crypto market will have to face stricter centralized control. Although institutional tokenization and infrastructure development continue, regulatory uncertainty may again slow down innovation within the United States.
$BTC $BNB $ETH
