Clarity Act Fails to Pass, Crypto Executives See Opportunity in DeFi, Legal Experts Say Uncertainty Will Persist

Odaily News: Initiatives by the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) may drive the expansion of regulated on-chain trading and boost institutional participation.

Legal experts say the regulatory framework is expected to advance gradually, but gaps remain that will need to be addressed by the U.S. Congress. Crypto industry executives believe that the failure of the Clarity Act to pass will create opportunities for decentralized finance (DeFi), but established exchanges may continue to maintain a competitive advantage. (CoinDesk)