The passage of the 'Clarity Act,' a landmark US crypto regulatory bill, has effectively stalled in the Senate ahead of the August recess, pushing back the legislative timeline. However, despite this regulatory gridlock, Circle has officially confirmed the launch of its own mainnet, 'Arc,' for September 16, accelerating its efforts to pioneer the institutional on-chain market. The Arc mainnet is attracting significant attention as traditional financial giants like BlackRock, Visa, and Mastercard are joining as early validators. It seems the era of waiting for clear regulatory guidelines is over. Circle has chosen not to pause due to regulatory delays but instead is opting for a head-on approach by partnering with major financial institutions to build a 'mainnet tailored for the institutional market.' While institutions like JPMorgan worry that legislative delays could hinder market entry, Circle’s move is an interesting signal that builders can establish new standards through their own infrastructure, even amid regulatory uncertainty. It will be worth watching whether the Arc chain can overcome the decline in USDC circulation and become a new breakthrough. 😄

Related Links