Grayscale's head of research, Zach Pandl, has weighed in on the potential failure of the CLARITY Act, offering a measured outlook for the digital asset industry. He said that even without the bill, major blockchain networks, bitcoin's store-of-value role and stablecoin payment growth would not be immediately hurt. Regulators would likely fill gaps through rulemaking. In his view, the absence of a comprehensive market structure law could curb new US investment activity, and might push crypto industry participants and startups to move abroad to jurisdictions with clearer frameworks. He added that the US government would still support the crypto ecosystem. Separately, Michael Saylor, co-founder and executive chairman of Strategy, had earlier said bitcoin would continue to develop no matter the CLARITY Act's fate, but that America needs regulatory clarity. Senator Bernie Moreno said Senate Democrats and Republicans have wrapped up talks and will now proceed to a vote.
Grayscale's head of research, Zach Pandl, offered a measured take on the fate of U.S. crypto legislation. Even if the CLARITY Act, a digital asset market structure bill, fails to pass, he said core blockchain networks, bitcoin's role as a store of value, and growth in stablecoin payments would not be hit immediately. Regulators would step in and fill the void through rulemaking.
Pandl did sound a note of caution: a lack of comprehensive market structure legislation could dampen new investment activity in the US. That, in turn, might push crypto industry players and startups to move to overseas jurisdictions with clearer regulatory frameworks. At the same time, he said the US government would continue to support the growth of the crypto ecosystem.
His remarks echo earlier comments from Michael Saylor, co-founder and executive chairman of Strategy. Saylor said bitcoin would keep developing whether or not the CLARITY Act passes, but that the US needs clear digital-asset regulation. Senator Bernie Moreno added that Senate Democrats and Republicans have concluded negotiations and will proceed to a vote.
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