{
  "@context": "https://schema.org",
  "@type": "Dataset",
  "name": "CLARITY Act US Crypto Exchange Readiness Index",
  "alternateName": "ChainChoice CLARITY Readiness Index",
  "description": "An affiliate-blind, editorial index scoring how prepared each major US-serving crypto exchange is to operate under the CLARITY Act's SEC/CFTC market-structure regime (DCM + ATS registration). Scored 0-100 across six weighted dimensions. Updated as registrations and rule-makings land. Not legal advice.",
  "url": "https://chainchoice.io/insights/clarity-act-exchange-readiness-index",
  "sameAs": "https://chainchoice.io/insights/clarity-act-exchange-readiness-index",
  "creator": { "@type": "Organization", "name": "ChainChoice", "url": "https://chainchoice.io" },
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "isAccessibleForFree": true,
  "version": "v1.0",
  "datePublished": "2026-06-12",
  "dateModified": "2026-06-12",
  "keywords": ["CLARITY Act", "US crypto exchanges", "SEC", "CFTC", "DCM", "ATS", "market structure", "crypto regulation 2026"],
  "creditText": "ChainChoice — affiliate-blind crypto decision infrastructure",
  "distribution": [
    { "@type": "DataDownload", "encodingFormat": "application/json", "contentUrl": "https://chainchoice.io/data/clarity-readiness-index.json" }
  ],
  "measurementTechnique": "Editorial scoring across six weighted dimensions of post-CLARITY operating readiness, based on publicly available registration, licensing, custody, enforcement, transparency, and availability information. Affiliate-blind: scoring code cannot import affiliate data (CI-enforced).",
  "variableMeasured": [
    { "@type": "PropertyValue", "name": "registration_path", "description": "Federal registration pathway (existing CFTC/SEC-registered US entity that shortens DCM/ATS registration)", "value": 0.28 },
    { "@type": "PropertyValue", "name": "state_licensing", "description": "US state licensing breadth (MTLs; NY BitLicense / NYDFS trust)", "value": 0.18 },
    { "@type": "PropertyValue", "name": "custody_capital", "description": "Custody & capital adequacy", "value": 0.18 },
    { "@type": "PropertyValue", "name": "track_record", "description": "Regulatory track record (clean vs. enforcement)", "value": 0.16 },
    { "@type": "PropertyValue", "name": "transparency", "description": "Transparency & verifiability (public-company disclosure, audits, PoR)", "value": 0.12 },
    { "@type": "PropertyValue", "name": "us_availability", "description": "Current US availability breadth", "value": 0.08 }
  ],
  "assessedAt": "2026-06-12",
  "methodologyNote": "Editorial readiness assessment based on publicly available information as of 2026-06-12. Scores are coarse (0-100, 5-point bands) — the relative ordering is the signal, not decimal precision. Affiliate-blind (CI-enforced). Not legal, investment, or tax advice; verify registrations with the SEC, CFTC, and relevant state regulator.",
  "ranking": [
    { "rank": 1, "id": "coinbase", "name": "Coinbase", "overall": 90, "tier": "Front-runner", "scores": { "registration_path": 90, "state_licensing": 95, "custody_capital": 90, "track_record": 80, "transparency": 95, "us_availability": 95 }, "rationale": "NASDAQ-listed, NYDFS-licensed, broadest US state coverage, a CFTC-registered derivatives venue — the clearest DCM/ATS on-ramp." },
    { "rank": 2, "id": "gemini", "name": "Gemini", "overall": 83, "tier": "Well-positioned", "scores": { "registration_path": 70, "state_licensing": 95, "custody_capital": 95, "track_record": 85, "transparency": 80, "us_availability": 80 }, "rationale": "A NYDFS limited-purpose trust company built custody-first with a strong compliance posture and minimal remediation overhead." },
    { "rank": 3, "id": "fidelity-crypto", "name": "Fidelity Crypto", "overall": 82, "tier": "Well-positioned", "scores": { "registration_path": 75, "state_licensing": 75, "custody_capital": 95, "track_record": 90, "transparency": 85, "us_availability": 70 }, "rationale": "Best-in-class institutional custody and a heavily-regulated parent; crypto retail breadth still expanding." },
    { "rank": 4, "id": "kraken", "name": "Kraken", "overall": 76, "tier": "Well-positioned", "scores": { "registration_path": 80, "state_licensing": 70, "custody_capital": 85, "track_record": 65, "transparency": 70, "us_availability": 85 }, "rationale": "Deep operating history and a CFTC-registered futures arm, offset by a prior SEC staking settlement." },
    { "rank": 5, "id": "crypto-com", "name": "Crypto.com", "overall": 70, "tier": "Well-positioned", "scores": { "registration_path": 70, "state_licensing": 75, "custody_capital": 70, "track_record": 60, "transparency": 65, "us_availability": 80 }, "rationale": "A hard US licensing push (including a US derivatives/FCM footprint) against offshore heritage." },
    { "rank": 6, "id": "robinhood-crypto", "name": "Robinhood Crypto", "overall": 70, "tier": "Well-positioned", "scores": { "registration_path": 65, "state_licensing": 65, "custody_capital": 70, "track_record": 70, "transparency": 85, "us_availability": 75 }, "rationale": "Public-company transparency and a registered broker-dealer parent; narrower crypto licensing, strengthened by the Bitstamp acquisition." },
    { "rank": 7, "id": "bitstamp", "name": "Bitstamp", "overall": 68, "tier": "Building", "scores": { "registration_path": 60, "state_licensing": 70, "custody_capital": 75, "track_record": 80, "transparency": 60, "us_availability": 65 }, "rationale": "The longest-running exchange with a clean record and partial US registration, now inside Robinhood." },
    { "rank": 8, "id": "block-cashapp", "name": "Cash App (Block)", "overall": 68, "tier": "Building", "scores": { "registration_path": 55, "state_licensing": 70, "custody_capital": 70, "track_record": 70, "transparency": 85, "us_availability": 80 }, "rationale": "Public-company parent (Block) and broad reach, but a deliberately narrow BTC-first product limits DCM/ATS scope." },
    { "rank": 9, "id": "binance-us", "name": "Binance.US", "overall": 42, "tier": "Re-entry", "scores": { "registration_path": 40, "state_licensing": 55, "custody_capital": 45, "track_record": 25, "transparency": 45, "us_availability": 45 }, "rationale": "Rebuilding after major US enforcement; meaningful remediation before a credible federal registration." },
    { "rank": 10, "id": "okx-us", "name": "OKX (US re-entry)", "overall": 40, "tier": "Re-entry", "scores": { "registration_path": 40, "state_licensing": 35, "custody_capital": 50, "track_record": 30, "transparency": 45, "us_availability": 35 }, "rationale": "Settled with US authorities in 2025 and staging a US re-entry; pathway depends on rebuilding state licensing." },
    { "rank": 11, "id": "bybit-us", "name": "Bybit (US re-entry)", "overall": 34, "tier": "Re-entry", "scores": { "registration_path": 30, "state_licensing": 25, "custody_capital": 45, "track_record": 35, "transparency": 40, "us_availability": 30 }, "rationale": "Predominantly offshore with limited US licensing today; a CLARITY-era re-entry starts from the back of the grid." }
  ]
}