O'Leary Sees Delay, Not Defeat, for Clarity Act

Kevin O'Leary, the host of Shark Tank and a veteran investor, believes that Congress will revisit the Clarity Act in the first quarter of next year. Speaking at the Avalanche Summit in New York on Thursday, he stated that the chances of CLARITY passing were initially zero, which is exactly what happened.

O'Leary pointed to the recent advancement of a separate crypto tax bill in the House as one reason why lawmakers will ultimately have to address the issue of market structure. The Digital Asset Tax Certainty Act aims to establish tax rules for areas including staking, mining, small crypto transactions, and broker requirements.

He argued that once Congress starts taxing certain activities, such as staking, they will need to establish clear policies, which is where the Clarity Act comes in. O'Leary believes that lawmakers will face pressure to set clearer rules for the activities that generate tax revenue.