CLARITY Act's Failure Paves Way for SEC's Crypto Push
Nate Geraci, president of ETF Store, believes that the failure of the CLARITY Act to pass is ironic. This is because it will give President Trump's SEC free rein to fast-track crypto through existing laws without any congressional guardrails.
The SEC has announced an open meeting to create a tailored offering regime for certain investment contracts involving crypto assets, according to Bloomberg. The agency also plans to release its innovation exemption for trading tokenized versions of stocks, which could allow for 24/7 stock token trading on blockchains. This move was originally set for May but was delayed after pushback from stock exchanges and public companies.
The updated proposal is expected to give companies the ability to object if a third party tries to tokenize their stock without consent, addressing one of the core concerns from the earlier draft.