ETF Store President: The root cause of the CLARITY Act not yet passing is that crypto is disrupting the traditional banking model

Odaily News: ETF Store President Nate Geraci posted on X platform that the fundamental reason the CLARITY Act has not yet passed is that cryptocurrency is disrupting the traditional banking business model.

He stated that although there are currently multiple controversies surrounding the bill, including ethics provisions and BRCA, the core issue is that cryptocurrency is reducing the need for banks as financial intermediaries and disrupting the banking business model that relies on net interest income, as well as the political forces that support this model.