Contenda sobre a regulamentação de ativos tokenizados: A lei CLARITY é uma proibição ou regras claras?

【比推】Recent debates in the crypto community about the US CLARITY Act have revealed interesting disagreements. A major exchange once supported the bill but later withdrew support, claiming it was a “de facto ban” on tokenized stocks. However, companies in the tokenization space are not convinced.

Securitize CEO Carlos Domingo was frank: “The current draft doesn’t outright ban tokenized stocks.” His logic is clear — the draft simply classifies tokenized stocks as securities and requires them to comply with existing regulations. This is actually a positive step for integrating blockchain technology into traditional markets.

Gabe Otte, CEO of Dinari, shares the same view, directly countering the statement from that major exchange. He said they do not believe the CLARITY draft constitutes a real ban.

Even Superstate, an asset management firm led by Compound founder Robert Leshner, echoed this sentiment. The company’s General Counsel Alexander Zozos pointed out that the core value of the bill lies elsewhere — it helps clarify those ambiguous aspects of crypto assets (especially projects whose security status is unclear). As for tokenized stocks and bonds? Those have long been under the jurisdiction of the US Securities and Exchange Commission(SEC).

It seems the key disagreement revolves around how to interpret “regulation.” One side views clear rules as a ban, while the other sees this clarity as a necessary step toward compliance.