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Multiple Tokenization Companies Refute Coinbase's Opposition to the CLARITY Act
BlockBeats News, January 16th. Earlier, Coinbase withdrew its support for the Cryptocurrency Act of 2020 (CLARITY Act), calling it a "de facto ban on tokenized stocks." However, multiple tokenization companies have stated that the Act confirms the regulation of digital securities rather than banning them.
Securitize CEO Carlos Domingo stated, "The current draft does not kill tokenized stocks." He believes the draft simply clarifies that tokenized stocks are still securities and must comply with existing rules, which is a key step in integrating blockchain into traditional markets. Dinari CEO Gabe Otte also disagrees with Coinbase's stance. He said, "We do not believe the CLARITY Act is a 'de facto ban' on tokenized stocks."
Asset management and tokenization company Superstate, led by Compound founder Robert Leshner, also expressed a similar view. Its General Counsel, Alexander Zozos, stated that the real value of the Act lies in helping address the gray area of cryptocurrency assets (those that do not clearly fall under the securities category) rather than regulating tokenized stocks or bonds, which fall under the jurisdiction of the U.S. Securities and Exchange Commission (SEC).
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