Gnosis Co-founder: CLARITY Act Could Leave Crypto Market Dominated by Centralized Entities

BlockBeats News, March 16th, Gnosis co-founder Friederike Ernst stated that the regulatory framework in the U.S. Digital Asset Market Structure Clarity Act may give major financial institutions greater control over the crypto market. She pointed out that certain provisions of the bill assume that market activities need to go through centralized intermediaries, which could weaken the role of blockchain users as network participants and stakeholders.

Ernst believes that if there is excessive reliance on institutional intermediaries, users may once again become "clients renting financial technology services" rather than actual participants in the network. However, she also noted that the bill partially clarifies the regulatory boundaries between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), providing some protection for peer-to-peer transactions and self-custody.

Currently, the CLARITY Act still faces controversy in Congress, with the main disagreement focusing on stablecoin governance issues. Galaxy Digital Research Head Alex Thorn previously stated that if the bill is not advanced by April 2026, the likelihood of its passage will significantly decrease. (Cointelegraph)