CLARITY | Crypto

Crypto gaming could thrive if the US Clarity Act passes Congress, but the sector should broaden beyond crypto-only models: Web3 Gamer Crypto will start to become adopted by multibillion-dollar gaming giants after the CLARITY Act advances through US Congress, according to Robbie Ferguson, founder of Immutable. I expect to see a ton of companies to come out of the woodwork with ultimately programmable loyalty and incentive schemes that are far more efficient than whatever their existing system is using, Ferguson said during an interview on TradeTalks on Wednesday. Were already in conversation with mult-billion dollar public gaming companies who are considering launching tokens as incentives for their end players, but what they need is complete clarity and certainty on how they can do that in a lawful way, Ferguson said.  Read more

The legislation to establish crypto market structure is one of three bills the US House of Representatives is expected to consider starting next week. Massachusetts Senator Elizabeth Warren is sounding the alarm about how publicly traded companies could essentially bypass US securities laws if a bill to regulate cryptocurrency markets becomes law. In a Wednesday hearing of the Senate Banking Committee to address crypto market structure legislation, ranking member Warren said she would be in favor of digital asset regulations strengthening the US financial system, but expressed concerns about the Digital Asset Market Clarity, or CLARITY, Act under consideration in the House of Representatives. The Massachusetts senator suggested that “non-crypto companies” could tokenize their assets to evade regulations enforced by the US Securities and Exchange Commission (SEC). Read more

Experts said the CLARITY Act crypto market structure bill will encourage TradFi firms to adopt blockchain as a means to evade regulation.