Clarity Act ‘not a gatekeeper’ for crypto innovation, WisdomTree exec says
The asset manager says innovation can proceed under current SEC rules as the Clarity Act faces debate in Congress.
What to know:
- WisdomTree’s head of digital assets said pending U.S. crypto legislation, including the proposed Clarity Act, is not essential for its digital-asset innovation and expansion plans.
- Will Peck argued existing SEC tools are sufficient to support tokenized securities and funds, as it builds out products such as a spot bitcoin ETF and tokenized money market funds.
- WisdomTree is pushing to bring more regulated investment products on-chain, enabling instant settlement and wallet-based access to assets, and says crypto market volatility has not slowed its efforts.
WisdomTree does not see pending U.S. crypto legislation as a prerequisite for innovation, even as policymakers debate new rules for digital assets.
“I don’t [think] it would inhibit anything that we’re trying to do,” said Will Peck, the firm’s head of digital assets, referring to the proposed Clarity Act. “We don’t view it as a gatekeeper.”
The Clarity Act, which is pending approval from Congress, aims to establish clearer jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), while setting rules for how digital assets are classified and regulated. Supporters say it could reduce uncertainty that has slowed institutional adoption.
Peck’s believes much of the framework already exists. “The SEC has all the tools… to foster good tokenized security markets, good tokenized fund markets,” he said.
That perspective reflects WisdomTree’s approach. The asset manager has been building in crypto and tokenization for years, earlier than many traditional peers. It offers a spot bitcoin exchange-traded fund (ETF) in the U.S. and a broader suite of crypto exchange-traded products in Europe, where competition has been less intense and innovation started earlier.
