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SAN FRANCISCO, Calif. — The crypto industry is eagerly awaiting a crucial vote on the Clarity Act. But there is already some hedging going on.
"There was always three paths to getting Clarity," Coinbase (COIN) CFO Alesia Haas told Yahoo Finance from the Goldman Sachs Communacopia & Tech Conference (video above). (Disclosure: Yahoo Finance has a partnership with Coinbase.)
"There was Congress, there were the agencies themselves, or there was the court system," Haas explained. "So if Clarity doesn't pass by Congress, we believe that we have a path via the SEC and the CFTC. Both Chair Selig [CFTC] and Atkins [SEC] have been incredibly innovative in trying to drive forward change in rulemaking at the agency level. And so we believe we'll be able to offer new products and services via the agencies."
The Clarity Act represents a historic attempt to establish a comprehensive federal regulatory framework for the US cryptocurrency industry by defining clear jurisdiction between the SEC and the CFTC.