Grayscale Research Head Sees Low Odds for CLARITY Act Passage This Year

Grayscale's head of research, Zach Pandl, has weighed in on the legislative outlook for the CLARITY Act. As reported by Crypto Banter, Pandl said the bill's chances of passing this year are currently seen as low. But he was quick to note that the industry's growth does not depend on it. Major blockchain development, demand for Bitcoin, and the expansion of stablecoins are all expected to continue, he argued. The sector has already been operating for nearly 17 years without this legislation. In addition, existing regulatory guidance and anticipated rulemaking from the U.S. Securities and Exchange Commission (SEC) should keep providing a supportive environment. Pandl also pointed out, however, that a larger share of new investment could end up flowing to overseas markets. The remarks, carried by Crypto Banter, indicate that even if the CLARITY Act does not become law this year, the crypto industry is not likely to pause its current trajectory. Regulatory support, in his view, is already in place through current guidance and future SEC actions. The report reflects Pandl's view that the sector's growth is not tied to the bill's passage.