No Approval Required: Clarity Act Proposes Granting Banks Authority to Use Digital Assets and Distributed Ledger Technology

OdailyNews: Aave founder Stani stated in a post that the Clarity Act proposes to legally grant banks the authority to use digital assets and distributed ledger technology without prior notice or approval, covering business areas such as custody, staking, and lending. The proposal is seen as providing legal authorization for U.S. banks to offer crypto-asset-related services in a compliant manner, potentially significantly expanding the market space for traditional financial institutions' participation in crypto business.