Tom Lee, chairman of Ethereum treasury company Bitmine, said in an interview that the crypto market could still extend its gains even if the CLARITY Act does not pass. In his view, real demand in the crypto market matters more than any single piece of legislation. Lee said the bill, if approved, would give the industry a clearer regulatory framework and define the role of the Commodity Futures Trading Commission more clearly. If it does not pass, he said, the Commodity Futures Trading Commission and the Securities and Exchange Commission would still remain the main federal regulators overseeing the sector. Lee pointed to prediction markets and sports betting as examples of sectors that continued to grow despite regulatory uncertainty.
Tom Lee, chairman of Ethereum treasury company Bitmine, said in an interview on Sept. 19 that the crypto market may still keep climbing even if the CLARITY Act does not pass.
Lee said real demand in the crypto market matters more than any one piece of legislation.
He added that, if the CLARITY Act is approved, it would set up a clearer regulatory framework for the crypto industry and spell out the role of the Commodity Futures Trading Commission, or CFTC, more plainly. But if the bill does not pass, the CFTC and the Securities and Exchange Commission, or SEC, would still remain the industry’s main federal regulators.
Lee also pointed to prediction markets and sports betting as sectors that kept growing even with regulatory uncertainty still hanging around.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
