Clarity Act will benefit banks more than crypto, former CFTC chair says

Clarity Act will benefit banks more than crypto, former CFTC chair says Former CFTC Chair Christopher Giancarlo says banks, more than crypto firms, need the stalled Digital Asset Market Clarity Act. What to know: - Former CFTC Chair Christopher Giancarlo said banks need the stalled Digital Asset Market Clarity Act more than crypto firms. - Passage of the bill will provide the regulatory certainty required to invest in new digital payment infrastructure. - The bill is stuck on whether crypto firms can pay rewards to stablecoin holders, which banks fear could spur capital flight. - Giancarlo sai

Clarity Act will benefit banks more than crypto, former CFTC chair says Former CFTC Chair Christopher Giancarlo says banks, more than crypto firms, need the stalled Digital Asset Market Clarity Act. What to know: - Former CFTC Chair Christopher Giancarlo said banks need the stalled Digital Asset Market Clarity Act more than crypto firms. - Passage of the bill will provide the regulatory certainty required to invest in new digital payment infrastructure. - The bill is stuck on whether crypto firms can pay rewards to stablecoin holders, which banks fear could spur capital flight. - Giancarlo sai