Chainlink Legal Chief Slams House Delay as 'Devastating' for Clarity Act
Katherine Kirkpatrick Bos, Head of Legal at Chainlink, expressed her disappointment and frustration over the cancellation of the final two weeks of the House's September legislative schedule. This development is seen as 'devastating' for the Clarity Act, a piece of legislation that aims to provide clarity on regulatory issues in the crypto space.
Bos emphasized that guidance from financial regulators, while well-intentioned, is not a substitute for an actual law. She stated that the best way to future-proof industry developments is through legislation, which is harder to amend or undo compared to rulemaking or guidance.
The Clarity Act has been seen as crucial in providing certainty and stability to market participants. However, with its prospects now uncertain due to the legislative delay, Bos expressed concerns about the durability of any regulatory clarity that may be provided through guidance. She proposed that broader participation from established financial players could help cement such guidance.