CLARITY Act · Wall Street · US Senate · CoinDesk
Even if Clarity falters, Wall Street’s crypto push is unlikely to stop
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Wall Street may finally get a clearer crypto rulebook it has spent years waiting for when Washington passes a market structure bill on Tuesday.
Key facts
- Tokenized equities lead RWA inflows as the market recovers; Binance's bStocks hit ~$118.5M in two months, now #2 issuer and ~90% of on-chain equity DEX volume
- The team think U.S. firms already have an economic incentive to accelerate product launches and tokenization activity into 2027-28 while today’s more favorable regulatory environment remains in place
- For tomorrow’s voting, the bill will need several Democrats to vote yes if it's going to beat the Senate's 60-vote threshold
- Spot bitcoin ETFs opened another route into the asset for professional investors in 2024, while large financial firms have continued expanding their digital-asset businesses
Summary
The Senate’s expected vote Tuesday on the Clarity Act could give financial firms clearer rules for trading digital assets and developing crypto products. But Wall Street’s crypto expansion is likely to continue regardless of the outcome. The bill would clarify regulatory authority over digital assets, but disputes remain over stablecoin rewards and their potential to draw deposits away from banks. The Senate’s expected vote on the Digital Asset Market Clarity Act (CLARITY) could give banks, brokers and asset managers more certainty about how they can trade and build products around digital assets.