Bitwise Claims CLARITY Act's Lack of Progress Benefits Crypto Business

Bitwise Asset Management's Chief Investment Officer Matt Hougan stated that after the Senate did not advance the CLARITY Act on September 15, stablecoin platforms can continue to offer balance rewards to customers, and exchanges like Coinbase retain the advantages of existing state-level licenses and the integration of trading and brokerage services. The U.S. Securities and Exchange Commission (SEC) issued a five-year exemption for tokenized stock trading on September 17, allowing eligible platforms to test licensed automated market makers and liquidity pools. Hougan pointed out that Securitize will provide services for tokenized funds for BlackRock, Apollo, and KKR, becoming a beneficiary. SEC staff updated the token buyback guidelines on September 28, indicating that for networks that have functionality and do not have a centralized party, buyback announcements do not constitute a promise of profit expectations for buyers, and this guideline does not have legal effect.

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