Chainlink's Kirkpatrick Bos Cites House Delay as 'Devastating' for Clarity Act Prospects
Chainlink's Head of Legal, Katherine Kirkpatrick Bos, expressed her disappointment over the House's decision to cancel its September legislative schedule. This move has put a significant delay on the Clarity Act, which she believes is essential for 'futureproofing' the work being done in the industry.
Kirkpatrick Bos emphasized that regulatory guidance from agencies is not a substitute for actual legislation. According to her, it's much easier to change or undo guidance than legislation. She mentioned that regulators are moving quickly to fill the legislative gap and provide clarity, but her main concern lies in the durability of these measures.
Kirkpatrick Bos proposed that broader participation from established financial players could help cement guidance. By getting more sophisticated large institutions involved, she believes it will be harder to undo the legal clarity provided. This approach would underscore the seriousness of providing long-term solutions and ensure they're not easily undone.