Japan's crypto overhaul and the widening gap with the US: what to watch
Japan has moved crypto under securities rules and plans a 20% tax rate, but ETFs and lower taxes are not yet in force; the US still leads.
The Clarity Act failed a cloture vote, and Coinbase's Faryar Shirzad said the electoral calendar and a $200 million bank lobbying campaign were factors,…
This week, the Clarity Act failed to secure a cloture vote, and Faryar Shirzad, Coinbase's chief policy officer, offered the most detailed analysis of what went wrong.
Shirzad attributes the setback to the electoral calendar, which caught the bill late in the cycle, and a roughly $200 million lobbying effort by big banks that slowed progress.
In his view, Congress has missed its opportunity, and the focus will now shift to the SEC, CFTC, and bank regulators led by Paul Atkins.
Shirzad also outlined a three-pronged approach spanning legislation, regulation, and international coordination, which he said continues to have momentum.
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Japan has moved crypto under securities rules and plans a 20% tax rate, but ETFs and lower taxes are not yet in force; the US still leads.
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