The CLARITY Act’s defeat sparked a surprise rally across crypto.
Both Bitcoin and Ethereum rose about 11% after the vote.
NEAR jumped 125%, Uniswap rose 49%, and Avalanche gained 44%, according to Bitwise CIO Matt Hougan.
The bill would have restricted stablecoin platforms from paying interest or rewards, and imposed a national licensing system for spot exchanges. With the legislation stalled, existing stablecoin rules remain, benefitting companies like Coinbase, while exchanges such as Kraken avoid new licensing limits.
SEC‑approved tokenized US stocks and clarified buy‑back rules also give revenue‑generating tokens clearer guidance under current regulation.
Do you think the crypto market thrives better under existing rules or needs new legislation to grow?
#Crypto #Bitcoin #Ethereum #Regulation #Stablecoins
Both Bitcoin and Ethereum rose about 11% after the vote.
NEAR jumped 125%, Uniswap rose 49%, and Avalanche gained 44%, according to Bitwise CIO Matt Hougan.
The bill would have restricted stablecoin platforms from paying interest or rewards, and imposed a national licensing system for spot exchanges. With the legislation stalled, existing stablecoin rules remain, benefitting companies like Coinbase, while exchanges such as Kraken avoid new licensing limits.
SEC‑approved tokenized US stocks and clarified buy‑back rules also give revenue‑generating tokens clearer guidance under current regulation.
Do you think the crypto market thrives better under existing rules or needs new legislation to grow?
#Crypto #Bitcoin #Ethereum #Regulation #Stablecoins
