A part of FTX survived, and it’s the case for the CLARITY Act
60-second summary
The remnants of FTX's compliance arm and other regulated entities continue to operate as they were bound by law, Randi Abernethy from Bullish argues, citing the CLARITY Act. This law aimed to harmonize digital assets with mainstream finance, but the Senate did not pass it, leaving a regulatory gap that's now being filled by existing laws.
When FTX collapsed, the parts of it bound by law survived. Mainstream finance is now converging with digital assets, and the law built to protect it the same way is the one the Senate did not pass this week, argues Bullish's Randi Abernethy.