Anchorage Digital ⚓️
3.8K posts

Anchorage Digital ⚓️
@Anchorage
The trusted crypto platform for innovators and investors. CEO @NathanMcCauley Disclosures: https://t.co/nZyCtt9td7



It is great to see the new draft for the CLARITY Act is out! Hopefully, Majority Leader Thune starts the Senate consideration of the legislation no later than Monday next week. Enacting the CLARITY Act would be a huge win for consumer protection advocates, US national security/ law enforcement, and people and businesses that want better financial services. On the consumer protection front, possibly the most notable win is making exchanges bankruptcy remote. Without that, it's possible, if your funds are on an exchange, and the exchange fails, you wont get your funds back. For national security, subjecting crypto exchanges and broker dealers to BSA/ AML and sanctions requirements is a welcomed improvement. And in terms of innovation, we will see much more investment by traditional financial institutions in digital asset infrastructure, once CLARITY becomes law. Overall the bill creates a federal floor for the regulation of crypto, which is long overdue.


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