Former CFTC Chair Giancarlo: U.S. Banks Need Crypto Regulatory Clarity to Stay Competitive

Former CFTC Chair Chris Giancarlo said U.S. banks urgently need clear cryptocurrency regulations to avoid falling behind other regions in payment innovation, Odaily Planet Daily reports. Speaking on The Wolf Of All Streets Podcast, he explained that bank boards are unlikely to commit billions of dollars amid regulatory uncertainty, even as digital asset markets continue developing. Giancarlo warned that delayed adoption could allow Asia and Europe to secure a leading role, leaving U.S. financial institutions at a disadvantage. If the CLARITY Act fails, he added, SEC Chair Paul Atkins and CFTC Chair Mike Selig are expected to provide interim regulatory guidance through independent rules.