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09/15 00:15

ETF Store President: The Only Reason the CLARITY Act Has Not Passed Is Due to Cryptocurrency Disrupt

On September 15, Nate Geraci, President of The ETF Store, stated that the only reason the CLARITY Act has not yet passed is that cryptocurrency is disrupting the traditional banking model... It really is that simple. We can discuss ethical clauses, BRCA (Blockchain Regulatory Certainty Act), and other issues, but ultimately, it all points to one core issue: cryptocurrency is reducing the demand for banks as intermediaries and disrupting the banking model that relies on net interest income (NII). Some politicians support this traditional model because they benefit from it and have incentives.

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