ETF Store President Nate Geraci said in a post on X that the CLARITY Act has still not passed because cryptocurrency is challenging the traditional banking model. In his view, the main obstacle is not limited to current disputes around ethics provisions or BRCA. He argued that the deeper issue is that crypto reduces the need for banks to act as financial intermediaries. Geraci added that this pressure also hits the business model banks rely on for net interest income, along with the political forces that support that structure. His remarks framed the debate around the bill as a clash with the existing banking system rather than a matter of legislative controversy alone.
ETF Store President Nate Geraci said in a post on X that the CLARITY Act has yet to pass because cryptocurrency is challenging the traditional banking business model.
Geraci said that while the bill is currently facing multiple disputes, including ethics provisions and BRCA, the core issue is that crypto is reducing the need for banks to serve as financial intermediaries. He added that this is also pressuring the bank model built around net interest income, as well as the political forces that support it.
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