Aave Founder Calls for Support for U.S. CLARITY Act Passage

Aave founder Stani Kulechov said industry participants need to reach consensus and do everything possible to help the U.S. CLARITY Act pass. According to Odaily, Kulechov said the bill is not perfect and that regulators will still need to set many details, but it would be the first regulatory law covering decentralized finance, or DeFi, and would provide a clear legal framework and regulatory certainty for institutions, fintech companies, and banks to participate in onchain finance. Kulechov said that if the CLARITY Act is passed, its effect on the onchain finance ecosystem could be similar to the opportunities the GENIUS Act brought to the stablecoin sector, and it could attract more investment and institutional funds into the onchain space. He added that over the past year, especially in recent weeks and days, the Aave team has been in close communication with policymakers in Washington. He said the effort has now reached the final stage of pushing the bill forward.