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Ex-CFTC chair warns US banks need crypto regulatory clarity under CLARITY Act delay
During a podcast on Sunday, former CFTC chair Chris Giancarlo said US banks need clear crypto rules more urgently than the crypto sector, as their legal teams will not approve major investments without regulatory certainty. He warned that continued delays around the CLARITY Act in the Senate could leave US banks behind Asian and European competitors, and suggested that if the bill fails, current SEC and CFTC leaders may draft interim rules to guide the industry.