Arthur Hayes, co-founder of BitMEX, has called on US President Donald Trump to veto the CLARITY Act, a proposed legislation aimed at regulating cryptocurrencies in the United States.
The bill, which has already passed through the Senate Banking Committee with a 15-9 bipartisan vote, aims to resolve long-standing disputes between regulatory authorities and provide clarity for digital asset developers.
However, Hayes believes that institutionalization of crypto would undermine the community's efforts and undermine the true value of cryptocurrencies, which he sees as a hedge against inflation.