Crypto Industry at Turning Point as CLARITY Act Reaches Critical Mass

Coinbase's vice chair and head of corporate affairs, Ryan VanGrack, says the crypto industry has reached a turning point on the CLARITY Act.

The bill is being considered by the Senate, with VanGrack stating that it's 'time to stop talking and start voting.'

VanGrack notes that the push for CLARITY now extends beyond the crypto industry itself, with law enforcement groups, major Wall Street firms, and millions of crypto voters coalescing around the bill.

If the bill doesn't pass before the midterm elections, VanGrack says that the pace of progress won't slow down, but rather it's a question of whether Congress can keep pace with the rapid advancements in the field.

VanGrack also pushed back on the idea that traditional banks remain firmly opposed to crypto's rise, pointing to recent announcements from major banks forming a consortium to issue a joint stablecoin.