#WhenWillCLARITYActPass
‼️ Crypto Pope Offers Compromise on Stablecoins
🇺🇸 The passage of the Crypto Market Structure Act (Clarity Act) has reached an impasse as traditional banks oppose stablecoin staking, believing it could disrupt the deposit market.
📈 Former CFTC Chairman Christopher Giancarlo has proposed allowing banks to offer customers returns on deposits in stablecoins, which he believes would benefit both banks and crypto companies.
Giancarlo warned that failure to pass the Clarity Act would lead to regulatory chaos and force innovation to move overseas.
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