Grayscale research head says CLARITY Act unlikely to pass this year but expects crypto adoption to continue via SEC rulemaking, though regulatory uncertainty may shift investment and developer activity overseas.
Regulation & Gov ·
Grayscale Head of Research Zach Pandl assessed that the CLARITY Act faces low odds of passage this year, citing Senate scheduling constraints and election-year dynamics. He contended that the bill's failure would not immediately impair Bitcoin, major blockchains, or stablecoin payment expansion, since the SEC and peer regulators are anticipated to continue closing regulatory gaps through rulemaking—especially on tokenized securities. Yet the absence of a unified U.S. market structure framework risks redirecting substantial new investment and developer activity to jurisdictions outside the country.