ETF Store President Nate Geraci Says CLARITY Act Faces Delay Over Crypto's Impact on Banks

ETF Store President Nate Geraci said on X that the main reason the CLARITY Act has not passed is that crypto is challenging traditional banks' business model. According to Odaily, he said the debate includes ethics provisions and BRCA-related disputes, but the core issue is that crypto is reducing the need for banks as financial intermediaries and undermining the net interest income model that supports them, along with the political forces behind it.