Grayscale Sees Plan B for US Crypto Industry if CLARITY Act Fails

The CLARITY Act's progress in the Senate has been stagnant since lawmakers returned from their August recess, but Grayscale remains optimistic about the US crypto industry's future. The company sees a potential plan B if Congress fails to deliver the highly anticipated market structure this year.

Although an agreement this year is still technically possible, the reality of the Senate calendar and the upcoming midterm elections have made official passage increasingly difficult. Grayscale's latest analysis noted that even if the bill passes, it would be a setback at first but could ultimately pave the way for further progress.

The company argued that Washington has several avenues to move crypto regulation forward without comprehensive legislation from Congress. Regulatory agencies such as the CFTC and SEC can continue developing rules and interpretations governing the market even if Congress remains on the sidelines.