Regulatory Certainty Crucial for Digital Assets Growth
The US Senate's failure to advance the CLARITY Act has sparked debate over the regulatory framework for digital assets. The act aimed to clarify the roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). However, the decision allows certain tokenized US equities to trade on new on-chain venues without registering as exchanges.
Marc Kessler, Head of Product and Business Development & Market Ecosystem at Custody, SIX, emphasizes that regulatory certainty is crucial for digital assets to scale. He points out that investment banks and asset managers need a clear understanding of how digital bonds or equities will be classified, held in custody, and traded.
The EU's Markets in Crypto-Assets Regulation (MiCA) provides a defined framework, allowing European firms to offer authorized crypto services across the bloc. Kessler suggests that established rules are essential for the digital asset market to mature, enabling interoperability between traditional and digital environments.