Speaking during the Binance Online event, Garlinghouse said that banks need regulatory clarity because of the long planning horizons on which they operate and that it’s not enough to have supportive leadership at the Securities and Exchange Commission (SEC) because that leadership could change.

Garlinghouse said the potential for institutional crypto activity is much greater than the current reality.

“With the CLARITY Act, you’ll see the largest financial institutions leaning in in a way we’ve never seen before,” Garlinghouse said, per the…