Aave founder Stani Kulechov said in a post on X that the CLARITY Act would give banks statutory authority to use digital assets and distributed ledgers without prior notice or approval. He said the scope would cover custody, staking, and lending, which he described as a major expansion of the market reachable by the crypto industry. Kulechov also said earlier that the bill is not perfect and that much will depend on how the follow-on authorization rules are written. Even so, he called it the first regulatory framework to touch DeFi and said it would create certainty for institutions, fintech companies, and banks using onchain services. He added that, if passed, the CLARITY Act would bring onchain business the same kind of tailwind and investment that the GENIUS Act brought to stablecoins.
ChainCatcher reported that Aave founder Stani Kulechov said in a post on X that the CLARITY Act would give banks statutory authority to use digital assets and distributed ledgers without prior notice or approval. He said the scope would include custody, staking, and lending.
Kulechov said the measure would amount to a major expansion in the market the crypto industry can reach.
Kulechov says the bill would create certainty for onchain activity
In earlier remarks, he said the CLARITY Act is not perfect and that much will depend on the actual authorization rules written afterward. Still, he described it as the first regulatory framework to touch decentralized finance, or DeFi, and said it would create certainty for institutions, fintech firms, and banks using onchain business.
He added that, if the CLARITY Act passes, it would bring onchain business the same kind of tailwind and investment that the GENIUS Act brought to stablecoins.
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