I don’t think the Crypto CLARITY Act failing to advance is a good thing overall. The U.S. needs clearer crypto regulation, and delaying that clarity is a negative for the industry in my opinion. But there could be a very interesting silver lining for $SOFI. Crypto companies still want deeper access to banking infrastructure, stablecoins and digital asset services, while the regulatory path just became less clear. SoFi already has a national bank charter and has been building the infrastructure to connect traditional banking and crypto. I don’t view today as bullish for crypto. But I do think it could make one of SoFi’s biggest competitive advantages even more valuable.
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5 Comments
Moses @purplix · 6d
there’s nothing stable about stable coins😂 glad the clarity act did not pass, at least hold while trumps lobby buddies are in office. once they leave and are prosecuted, maybe come back with some heavy crypto regulations
Scott S@scottsinvesting · 6d
It only makes sense to pass it IF the rules make sense... At the center of the current impasse is ethics language aimed at preventing government officials from profiting off of the industry. The masses love to complain about government officials profiting off stocks. Well... Some in the Senate are trying to prevent that from happening with Crypto.
Canadian Investor@canadianinvestor · 6d
now it's on to the rates tomorrow could be a rough week for SOFI or if they somehow hold the rates then maybe it won't be so rough😬
Deadasshionately Maker@mkrdvdnd · 5d
I think it's actually bullish in the short term. The sec and cftc are going to implement pieces of the clarity frame work without all the ethics clauses and bank bullshit that was holding it back in the first place. Pro: speeds up adoption and bypasses a lot of months of lobbying and having to hear Ben McKenzie say he has a degree in economics again. Con: next president comes in, replaces the pro trump crypto people and changes the rules. The clarity act would of stopped that. My hope is by that time, they see how blockchain is in every part of the worlds financial system, ai, and infrastructure that they fear any blowback from undoing it and just pass the act with whatever ethic rules and regs they need.
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