Crypto for Advisors: Wall Street is done waiting on Congress for crypto rules
Source: CoinDesk ·
From the source
You’re reading Crypto for Advisors , CoinDesk’s weekly newsletter that unpacks digital assets for financial advisors. Subscribe here to get it every Thursday. In today’s newsletter, Eric Soufer of Tusk Strategies looks at what financial firms are building while Congress stalls on a crypto framework. Then, in “Ask an Expert,” Diego Grassano explains what advisors should check before trusting a tokenized platform. While Congress stalls, Wall Street sets its own crypto rule Without a federal framework, financial firms are standardizing compliance and infrastructure on their own. When the Senate failed to advance the CLARITY Act on Sept. 15, the U.S. was once again left without a comprehensive federal framework for digital assets, and regulators moved to fill part of the gap . Two days later, the SEC issued an “ innovation exemption ” allowing certain venues to trade tokenized U.S.-listed stocks onchain. But an exemption is not a statute, and it can be narrowed or withdrawn as easily as…