Why banks and offshore hubs like Dubai are winners of the Senate killing the Clarity Act
The Senate's rejection of the Clarity Act has been seen as a victory for banks and offshore financial hubs like Dubai, according to industry experts. A banking analyst suggests that the failure to pass the bill is advantageous for institutions opposing stablecoin yields, while a global crypto lawyer notes that overseas jurisdictions stand to gain from the situation.
The Senate's rejection of the Clarity Act has been seen as a victory for banks and offshore financial hubs like Dubai, according to industry experts. A banking analyst suggests that the failure to pass the bill is advantageous for institutions opposing stablecoin yields, while a global crypto lawyer notes that overseas jurisdictions stand to gain from the situation.
Sources
- CoinDesk — Why banks and offshore hubs like Dubai are winners of the Senate killing the Clarity Act
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