Andrew Cuomo compares the adoption of blockchain with the rise of electronic trading, which reshaped Wall Street after successive disruptions and regulatory reforms. He argues that blockchain can accelerate settlement, increase transparency and open securities markets to investors worldwide on a continuous basis. The SEC recently created an exemption facilitating the trading of U.S. stocks using blockchain, while OKX and ICE announced a joint trading platform. Cuomo calls the Congress’s failure to pass the CLARITY Act in September a missed opportunity to establish a durable regulatory framework for digital assets and says the incoming Congress must act before the United States falls behind.
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