Matt Hougan: The lack of progress in the CLARITY Act and favorable regulatory developments from the SEC for four types of cryptocurrency businesses

Matt Hougan, Chief Investment Officer of Bitwise Asset Management, stated that after the Senate failed to push the CLARITY Act on September 15th, stablecoin platforms will retain the space to provide balance rewards to customers, while exchanges such as Coinbase will continue to maintain their current state-level licenses and business integration advantages. On September 17th, the US Securities and Exchange Commission (SEC) issued a five-year exemption for tokenized stock trading, benefiting tokenized fund service providers such as Securitize. SEC staff updated the token repurchase guidelines on September 28th, stating that for networks that already have functionality and do not have a centralized party, repurchase announcements do not constitute a commitment that buyers expect to rely on for profits. (Source: Bitcoin.com News)