Summary
- Concerns have been raised that the U.S. digital asset market structure bill, the CLARITY Act, could deal a serious blow to the DeFi industry.
- Industry experts argued that regulations similar to those for centralized exchanges could be imposed on decentralized exchanges such as Uniswap and Jupiter.
- The legal obligations of the CLARITY Act conflict with the nature of decentralized technology, and it has been stated that implementing technical compliance measures would be highly challenging.
According to specialized cryptocurrency media Decrypt on the 15th (local time), the U.S. digital asset market structure bill known as the 'CLARITY Act' could deliver a significant blow to the DeFi (decentralized finance) industry.
U.S. DeFi industry experts have argued that this bill may impose regulations similar to those for centralized exchanges (CEX) like Coinbase on decentralized exchanges (DEX) such as Uniswap and Jupiter.
In particular, there are concerns that DeFi platforms could be required to limit the tokens they list and submit compliance reports to regulatory authorities, thereby bearing legal obligations similar to those of CEXs.
Experts stated, "The listing procedures required by the CLARITY Act conflict with the nature of decentralized technology," and added, "It is virtually impossible in reality for developers to implement technical measures for compliance."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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