A 50–49 Senate vote that stalled the CLARITY Act has raised the risk that crypto companies will rely on more custodians and permissioned systems, according to GenLayer Labs CEO Albert Castellana.
Summary
- The Senate vote fell 10 votes short of the 60 needed to begin debate.
- Castellana said unclear rules could push companies toward custodians, restricted frontends and administrator keys.
- The GENIUS Act covers stablecoin issuance but leaves questions involving DeFi, wallets and trading.
- Bitwise CIO Matt Hougan called the failed vote “a speed bump, not a roadblock.”
GenLayer Labs CEO and co-founder Albert Castellana told crypto.news that the Senate result was…
