Concerns on CLARITY Act at July 6 hearing

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Amanda Fischer, former chief of staff to SEC Chair Gary Gensler, cited Robinhood CEO Vlad Tenev as an example of how firms could exploit the Clarity Act to bypass securities laws, saying that Tenev described running a crypto business as “an order of magnitude” cheaper and that Robinhood has signaled plans to tokenize assets to shift operations to blockchain to avoid paying for "customer protection, SEC exams, or SIPC insurance”
The Clarity Act includes loopholes, that, according to expert's testimony before the House Financial Services Committee on June 6, 2025, would allow traditional financial institutions to move corporate actions, like capital raising, onto blockchain networks in order to avoid U.S. Securities regulation
Maxine Waters, the Democrat on the House Financial Services Committee, criticized the Republican-led Digital asset market structure bill, the Clarity Act, for excluding provisions that would bar President Donald Trump from profiting off of his crypto ventures while in office

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