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Multiple Tokenization Companies Refute Coinbase's Opposition to CLARITY Act
Summary: Coinbase recently withdrew its support for the Cryptocurrency Act of 2020 (CLARITY Act), labeling it as a 'de facto ban' on tokenized stocks. However, tokenization companies argue that the act actually confirms regulated digital securities, rather than banning them. Securitize CEO Carlos Domingo stated, 'The current draft does not stifle tokenized stocks,' emphasizing the importance ...
Coinbase recently withdrew its support for the Cryptocurrency Act of 2020 (CLARITY Act), labeling it as a 'de facto ban' on tokenized stocks. However, tokenization companies argue that the act actually confirms regulated digital securities, rather than banning them. Securitize CEO Carlos Domingo stated, 'The current draft does not stifle tokenized stocks,' emphasizing the importance of integrating blockchain into traditional markets. Dinari CEO Gabe Otte also disagreed with Coinbase's stance, stating, 'We do not believe the CLARITY Act is a 'de facto ban' on tokenized stocks.' Asset management and tokenization company Superstate, led by Compound founder Robert Leshner, echoed similar sentiments. Their general counsel Alexander Zozos highlighted the act's value in clarifying the regulatory status of crypto assets, rather than regulating tokenized stocks or bonds, which fall under the jurisdiction of the U.S. Securities and Exchange Commission (SEC). (CoinDesk)
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Link: Multiple Tokenization Companies Refute Coinbase's Opposition to CLARITY Act [Copy]
