TOKEN2049 Regulatory Roundtable: CLARITY Act Stalls This Year, Crypto Industry Rules May Increasingly Rely on Regulators to Implement

BlockBeats news, October 8 — At the TOKEN2049 regulatory roundtable in Singapore, several industry insiders discussed how crypto industry regulatory rules will advance after the U.S. CLARITY Act stalled in the Senate this year.

Former CFTC Commissioner and SUI Group Holdings director Brian Quintenz said the market clarity the SEC and CFTC can provide through regulatory action may reach the level that legislation could achieve. Hyperliquid Policy Center CEO Jake Chervinsky said Hyperliquid can serve as infrastructure on which market participants can build compliant markets.

Deepa, Vice Chair and Managing Director of the Dubai Virtual Assets Regulatory Authority (VARA), said regulated derivatives business has driven a 7x increase in trading activity in Dubai. Kraken co-CEO Arjun Sethi said top European clients are moving their business to Dubai, Singapore, and Hong Kong.