DeFi leaders voice concerns amid market structure bill‘s uncertain future
Many in the industry expect it could be weeks before lawmakers on the Senate Banking Committee return to consider a markup for the CLARITY Act.
With a markup of the Digital Asset Market Clarity Act (CLARITY) in the US Senate Banking Committee postponed indefinitely, leaders in decentralized finance are using the delay to press lawmakers on concerns with the bill.
Before Republican leaders on the Banking Committee moved late Wednesday to postpone the markup, crypto industry groups had raised concerns about provisions related to tokenized equities, stablecoin rewards and their potential impact on DeFi platforms. The DeFi Education Fund said on Wednesday that some proposed amendments could “seriously harm DeFi technology and/or make market structure legislation worse for software developers.”
Crypto venture capital companies said the legislation would need revisions to address concerns around DeFi and developer protections.