Who needs CLARITY anyway? ARB could see 70X increase: Hodler’s Digest
Crypto missed out CLARITY, but tokenized stocks were legalized and the Bitcoin Reserve advanced. Meanwhile Standard Chartered says Arbitrum’s price could increase 70 times by 2030.
Crypto markets have missed out on the clarity provided by the CLARITY Act, though tokenized stocks have gained legalization and Bitcoin Reserve progress. According to Standard Chartered, Arbitrum's price could skyrocket to $10 by 2030. After a failed vote on the Digital Asset Market Clarity Act, which received only 49 votes in favor, the US Senate's partisan dynamics allowed for its resurrection.
With only 20 legislative days left in the current Congress, it seems unlikely that CLARITY will pass, as expressed by a Democrat representative. Seven Democrats who had voted against the bill remain committed to its passage, waiting for a future opportunity. The US Securities and Exchange Commission announced a five-year exemption allowing limited trading of tokenized US stocks on decentralized public blockchains.
The Commodity Futures Trading Commission also issued a no-action position, potentially making it easier for crypto wallets and apps to access regulated derivatives. In a separate incident, the American Reserve Modernization Act passed the US House Committee on Financial Services, requiring agencies to audit digital assets and provide quarterly proof of reserve reports.
Bitcoin policy leaders consider the legislation a crucial step for Bitcoin's future. The crypto market saw significant gains with NEAR Protocol up 76.4%, Arbitrum up 64.3%, and Ethena up 61.6%, while Stablecoin and Pi saw substantial losses.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
