Hayes Warns Trump: Veto CLARITY Act to Protect Decentralized Bitcoin

Arthur Hayes, co-founder of BitMEX, has expressed his opposition to the Digital Asset Market CLARITY Act. He believes that this legislation will not increase the value of Bitcoin and instead warns it could centralize the cryptocurrency, undermining its decentralized nature.

Hayes argues that Bitcoin's price depends on the supply of fiat currency, not regulatory frameworks. In a statement, he urged President Trump to veto the CLARITY Act, suggesting that regulations risk limiting the potential of digital assets.

The CLARITY Act aims to clarify the roles of the SEC and CFTC in regulating digital assets but faces significant political hurdles and low chances of passing.