![\"CLARITY](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjYtMDMvMDE5Y2YzNGUtMGMwZi03MDkzLTg2ZDktOWM2OWNjNWQwYjVmLmpwZw==.jpg\")
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The legislation assumes that all crypto activity must pass through financial intermedia<\/a>ries licensed by the US government, warns Gnosis co-founder.<\/p>\n The regulatory provisions outlined in the US Digital Asset Market Structure Clarity Act, otherwise known as the CLARITY Act, threaten to give large financial institutions control over crypto, according to Dr. Friederike Ernst, co-founder of the Gnosis blockchain protocol.<\/p>\n Regulations in the CLARITY crypto market structure bill assume that activity must pass through centralized intermediaries, which risks consolidating crypto rails in the hands of a few entrenched players, Ernst told Cointelegraph.<\/p>\n \u201cBlockchain\u2019s real breakthrough was not just a new financial infrastructure. It was the ability for users themselves to become owners of the networks they rely on,” she said. Ernst added:<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n