Lauren Belive: Opposing the CLARITY Act will expose crypto holders to risks

Lauren Belive, Co Head of Global Public Policy and Government Affairs at Ripple, stated that opposing the CLARITY Act is anti consumer behavior and continues to expose cryptocurrency holders to malicious actors who exploit regulatory arbitrage. Lauren Belive pointed out that the regulatory gap exposed by the collapse of FTX still exists. The CLARITY Act will grant the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) joint jurisdiction over the digital asset market and require tokens to undergo regulatory oversight before entering the market. Stuart Alderoty, Chief Legal Officer of Ripple and President of the National Cryptocurrency Association, stated that opposing the CLARITY Act will continue the existing unregulated state and be exploited by malicious actors.