Bitwise Says CLARITY Act Stalling Benefits Four Types of Crypto Businesses

Odaily News: Bitwise Asset Management Chief Investment Officer Matt Hougan stated that after the Senate declined to advance the CLARITY Act on September 15, stablecoin platforms retain room to offer balance rewards to customers, and exchanges such as Coinbase also continue to maintain existing state-level licenses and advantages in integrating trading and brokerage operations.

The U.S. Securities and Exchange Commission (SEC) issued a five-year exemption for tokenized stock trading on September 17, allowing qualifying platforms to adopt permissioned automated market makers and liquidity pools for testing. Hougan listed Securitize, which provides services for BlackRock, Apollo, and KKR tokenized funds, as a beneficiary.

SEC staff updated token buyback guidance on September 28, stating that for networks that are already functional and have no centralized party, buyback announcements do not constitute a promise on which purchasers rely for expected profits; the guidance does not have legal effect. (Bitcoin.com News)