According to a memo released by Bitwise Chief Investment Officer Matt Hougan, the CLARITY Act's failure to advance in the U.S. Senate has unexpectedly benefited stablecoins, existing crypto exchanges, tokenization platforms, and tokens that use protocol revenue for buybacks. He believes the stalled bill preserves room for exchanges to offer stablecoin rewards and allows existing platforms like Coinbase and Kraken to maintain their licensing and business structure advantages. Regulators are also expected to push forward pilot programs for tokenized stock trading and clarify issues related to token buybacks for functional networks, providing support for these two types of businesses. However, Hougan noted that these benefits depend on regulatory actions, and future government changes could still bring policy shifts. https://(wublock123.com)/news/bitwise-cio-clarity-bill-stalls-stablecoins-tokenization-benefit-69470