BitMEX co-founder Arthur Hayes has called on former President Donald Trump to veto the CLARITY Act, a proposed piece of U.S. crypto legislation. Speaking in a May 13 interview with The Wolf Of All Streets, Hayes argued that Bitcoin and the broader crypto market should not depend on regulatory approval to thrive.
“If Bitcoin and crypto need regulation to survive, they are not worth a penny,” Hayes stated. He emphasized that the asset class was built over 15 years on principles of decentralization and independence from traditional financial systems. Hayes did not entirely reject mainstream participation but expressed concern that some rules could undermine crypto’s original purpose.
The CLARITY Act has become a focal point in the debate over digital asset oversight. While supporters cite investor protection and market structure, Hayes focused on maintaining crypto’s identity outside of legacy finance. He noted that banks are increasingly interested in offering crypto products because clients demand non-correlated assets to hedge against inflation and fiat debasement. Financial institutions can also earn fees from these products, giving them a business incentive to advocate for broader access.
Hayes cautioned against pushing Bitcoin toward excessive “institutionalization,” warning it could weaken the network’s ethos. He stressed that crypto has grown without full endorsement from banks or regulators and that this history should inform lawmakers. His remarks add a prominent voice to the ideological split within the crypto community—some seek clear regulatory frameworks to attract capital, while others resist deeper ties to traditional finance, championing Bitcoin’s foundational vision.
