Grayscale says odds of CLARITY Act passing this year have fallen

Grayscale said prospects for the bipartisan U.S. crypto market structure bill known as the CLARITY Act passing this year have dimmed, although room for consensus remains, citing the Senate calendar and the political backdrop ahead of the midterm elections. The firm said a failure to pass the bill this year would be unlikely to have an immediate major impact on Bitcoin demand, core blockchain operations, or growth in stablecoin payments. Grayscale added that regulators including the U.S. SEC could partly fill the institutional gap by introducing additional rules for digital assets, including tokenized securities. At the same time, it warned that if the broader regulatory framework envisioned by the CLARITY Act does not materialize, including rules for token issuance and fundraising, support for tokenized securities markets, and oversight of digital asset brokers, new investment and startup activity could shift to overseas markets with more favorable regulatory environments.