No CLARITY Act, No Problem? Grayscale Explains Crypto’s Plan B

The bill received a date for its next major Senate test, but moving forward is a whole other ballgame. The CLARITY Act got stuck in political limbo at the end of the business week until lawmakers return from their August recess, and Grayscale laid out a potential plan ahead for the US crypto industry if Congress ultimately fails to deliver the highly anticipated market structure this year. There’s no need to sugarcoat it: it would be a setback at first, but the company sees a path forward. Crypto Will Survive Grayscale has weighed in on several occasions on the bill’s potential, and its latest analysis admitted that an agreement this year still remains technically possible. However, the reality of the Senate calendar and the upcoming midterm elections have made official passage increasingly difficult. Their report comes just as Senate Majority Leader John Thune filed cloture on the motion to proceed with the legislation before lawmakers left Washington last week. The procedural vote is scheduled for September 15 but still requires 60 votes. Importantly, it’s not a final vote on the bill, just to determine whether senators can advance toward formally considering it. If they fail to ...