Bitwise says CLARITY Act’s failure to advance will benefit four types of crypto businesses

Odaily Planet Daily News Matt Hougan, chief investment officer of Bitwise Asset Management, said that after the Senate did not advance the CLARITY Act on September 15, stablecoin platforms retain room to provide balance rewards to customers, and exchanges such as Coinbase also continue to maintain their current state-level licenses and the advantages of trading and brokerage business integration.

The U.S. Securities and Exchange Commission (SEC) issued a five-year tokenized stock trading exemption on September 17. Qualified platforms can use licensed automatic market makers and liquidity pools for testing. Hougan lists Securitize, which services BlackRock, Apollo and KKR tokenized funds, as a beneficiary.

SEC staff updated the token repurchase guidelines on September 28. For networks that are already functional and do not have a centralized party, the repurchase announcement does not constitute a commitment on which the buyer expects to make profits; the guidelines have no legal effect. (Bitcoin.com News)