Pompliano: Bitcoin Doesn't Need CLARITY Act
Pompliano claims Bitcoin doesn't need the CLARITY Act for its success. He states that Bitcoin has already achieved regulatory clarity due to its status as a digital commodity and store of value widely accepted by the market.
According to Pompliano, the main fight over the bill is about who can offer yield, with banks wanting to keep crypto firms out of this market. However, he argues that Bitcoin's price won't change regardless of whether the bill passes or not.
The CLARITY Act would be more relevant for stablecoins and yield-bearing products, as it addresses issues around access to yield, which both sides agree helps consumers. The debate is about who gets to provide this yield, with banks trying to keep crypto firms out of offering traditional institutions' services.