Coinbase CEO says crypto can’t wait on Congress after CLARITY vote fails

The Senate’s failure to pass the CLARITY Act is actually a win for crypto. Coinbase CEO Brian Armstrong argues that the SEC and CFTC already possess the authority to regulate the industry without waiting for Congress. Traditional banks are only blocking this legislation because they fear stablecoin rewards will drain their deposits. If regulators can bypass a deadlocked Congress to provide clarity, why are we still lobbying for new laws? Is it time to stop waiting on politicians?
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