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Multiple interest groups are lobbying against the current draft of the Clarity Act. The Indian Gaming Association opposes limits on prediction markets, state attorneys general cite restrictions on scam enforcement, and major banking lobbies demand changes to stablecoin yield language.
India launched its Demat 2.0 pilot to tokenize corporate bonds and settle them using its wholesale digital rupee. David Bennett notes that Indian regulators are only embracing blockchain tech because they can maintain strict control over the infrastructure.
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