Bernstein, the asset manager with $867 billion under management, said a failure of the U.S. CLARITY Act could end up accelerating crypto rulemaking by the Securities and Exchange Commission and the Commodity Futures Trading Commission. The firm said that even if the legislation aimed at clarifying the U.S. crypto regulatory framework stalls in Congress, major financial regulators may still move ahead by relying on powers they already have under existing law. In Bernstein’s view, the bill remains a key variable for the direction of digital asset oversight in the United States, and the market is watching closely. The report was cited by Techub News and attributed to Cointelegraph.
Bernstein, which has $867 billion in assets under management, said the U.S. CLARITY Act failing to pass could instead push the Securities and Exchange Commission and the Commodity Futures Trading Commission to move faster on digital asset rulemaking.
According to Bernstein, even if the legislation designed to clarify the U.S. regulatory framework for cryptocurrencies is blocked in Congress, the country’s main financial regulators could still tighten rulemaking for the crypto industry by using authority already available under existing law.
The firm said the bill is currently seen as an important variable in the direction of U.S. digital asset regulation, with the outcome drawing close market attention. The report was cited by Cointelegraph.
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