clarityact

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1️⃣ L'assalto agli ETF ($XRPI) 🏦
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The decision by Coinbase to withdraw its support for the proposed U.S. CLARITY Act has once again stirred controversy across the crypto industry. The bill, originally intended to deliver a long-awaited and clearer regulatory framework for digital assets, is now at the center of a broader debate about competition, power, and whose interests U.S. crypto regulation ultimately serves. While Coinbase frames its concerns around consumer protection, critics argue the move reflects growing anxiety over shifting market dynamics.

What the CLARITY Act Was Meant to Do
The CLARITY Act is designed to define how crypto assets should be regulated in the United States, more clearly delineating the boundaries between regulatory agencies and establishing rules for exchanges, issuers, and market participants. Supporters believe the bill would reduce legal uncertainty and allow the industry to move forward with greater confidence.
Progress, however, has stalled after repeated delays to key Senate hearings, leaving the legislation in limbo just as scrutiny from within the industry intensifies. Coinbase’s sudden change in stance has shifted attention away from lawmakers and toward the exchange itself, raising questions about what changed behind the scenes.

Critics Question Coinbase’s Motives
Research firm Citron Research has openly challenged Coinbase’s narrative, suggesting the exchange’s concerns go beyond policy details. According to Citron, clearer market-structure rules could benefit tokenized securities platforms such as Securitize, which enjoy strong backing from traditional finance. With reduced regulatory uncertainty, these firms could scale rapidly and become genuine competitors to established crypto exchanges.
From this perspective, Coinbase may support regulatory clarity in principle while opposing versions of the law that lower barriers for Wall Street–backed players. This has fueled speculation that the exchange is seeking to protect its market position rather than block harmful regulation.

Stablecoins, Banks, and the Yield Debate
Adding another layer to the discussion, analyst Shanaka Anslem Perera argues that the CLARITY Act is fundamentally aimed at protecting the traditional banking system. He claims the bill acts as a safeguard for bank deposits threatened by yield-generating stablecoins in a market valued at roughly $6.6 trillion.
Perera highlights a key imbalance: banks typically pay depositors interest of around 0.1%, while stablecoin issuers earn roughly 4.5% by investing in U.S. Treasury bills. If those returns were passed on to users, banks would struggle to compete. Citing research from the Federal Reserve Bank of Kansas City, he notes that competitive stablecoin yields could siphon off nearly 26% of bank deposits, reducing lending capacity by approximately $1.5 trillion.

Section 404 and Claims of Regulatory Capture
At the heart of the controversy lies Section 404 of the CLARITY Act, which reportedly prohibits yield payments through any channel, including issuers, exchanges, and affiliated entities. Perera argues this effectively shuts down all avenues for stablecoins to offer competitive returns.
He suggests that once these provisions were fully understood, Coinbase CEO Brian Armstrong pulled support and labeled the proposal a “Dodd-Frank for digital assets.” Perera compares the U.S. approach with China, where the digital yuan (e-CNY) has recently become interest-bearing, and concludes that while U.S. crypto regulation may bring clarity, it could ultimately favor entrenched financial institutions over innovation.

#CLARITYAct , #DigitalAssets , #Stablecoins , #blockchain , #CryptoNews

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Brian Armstrong, CEO della piattaforma di scambio di criptovalute americana Coinbase, ha recentemente annunciato che non può supportare l'attuale CLARITY Act (Digital Asset Market Clarity Act) nella sua forma attuale. Questa notizia è importante per il mercato delle criptovalute perché il disegno di legge potrebbe portare a cambiamenti significativi nella regolamentazione delle criptovalute negli Stati Uniti.
🔹 Perché Coinbase si è opposta?
Secondo Brian Armstrong, l'attuale forma del CLARITY Act non è favorevole all'industria delle criptovalute. Include alcune questioni chiave:
Restrizioni sulle azioni tokenizzate: Questo può rendere difficile per gli investitori partecipare al mercato.