Clarity Act on Track to Pass Despite Democrat Opposition

Despite some opposition from older Democrats, Coinbase's Chief Policy Officer Faryar Shirzad believes that the Clarity Act has a good chance of passing. The bill aims to set in stone digital asset regulation and is currently being mulled over by lawmakers.

The latest draft of the bill bans officials and their families from issuing or promoting crypto, which was a point of contention for some lawmakers previously. However, Shirzad points out that younger Democrats understand the technology and its potential benefits, leading to a generational shift in support for the bill.

Shirzad notes that there are about 67 million Americans who own crypto, and that the bill has already made progress on ethics and nominations. He is optimistic that the bipartisan bill will be passed, citing its 'extraordinarily bipartisan' nature.