Gnosis executive: The Clarity Act could put control of cryptocurrencies in the hands of centralized institutions.

CoinFeed reported on March 16th, citing Cointelegraph, that Friederike Ernst, co-founder of the Gnosis protocol, stated that the US CLARITY Act risks handing control of cryptocurrencies to centralized institutions. Ernst pointed out that the Act assumes all activity must go through centralized intermediaries, potentially causing the crypto space to fall into the hands of a few existing players. She emphasized that the true breakthrough of blockchain is not just new financial infrastructure, but also the ability for users themselves to become owners of the network. If activity is pushed back to institutional intermediaries, users may once again become customers renting financial technology, rather than stakeholders.