My friends all know that the CLARITY Act has been postponed, and they also know that the delay is due to obstruction from the CEO of Coinbsase. But do you know why there are big players in the cryptocurrency field who are trying to stop what everyone thinks is a good cryptocurrency bill? 1. Restrictions on tokenized stocks The CLARITY Act has extremely strict definitions and exemption conditions for "on chain securities", which is equivalent to blocking the path of "on chain securities" in the system. And now, including Coinbase RobinHood and even Binance, they are withdrawing from trading on the US stock market, which is currently the clearest RWA event. 2. Functional regulation of DeFi The draft contains clauses that include "control/front-end/governance participants" as compliance obligations, which is precisely the most disliked part of the DeFi community. To put it simply, the government will obtain all DeFi information, and the most attractive aspect of decentralization is the lack of KYC. However, the passage of the CLARITY Act means that DeFi in the United States has become a bank. 3. SEC Power Boundary Issues The CLARITY Act does indeed divide the powers of the SEC and CFTC, but at the enforcement level, the SEC still holds stronger interpretive power and enforcement priority. 4. Stablecoins are not allowed to earn interest The most important thing is that the banking industry is concerned that stablecoins may steal their business. 5. Moral provisions on conflict of interest of the Trump family One of the biggest gains of cryptocurrency in the past two years should be Trump. Not only the Democrats, but also the Republicans feel it is very necessary to restrict Trump and President. These issues are currently difficult to solve and are likely to be delayed for some time. @bitget VIP， Lower rates and more generous benefits