Tapscott: CLARITY Act's Passage or Failure Won't Spark Crypto Panic

The CLARITY Act has become a major regulatory focus for the crypto industry. However, Alex Tapscott, CEO of CMCC Global Capital Markets, believes prediction markets may be overstating its chances of passing.

Tapscott said that while markets currently assign the bill roughly 47% to 50% odds of becoming law, it may struggle to secure enough bipartisan support in the Senate.

Despite this, he does not expect failure to automatically trigger a major crypto market correction. Tapscott stressed that the CLARITY Act's passage has not been priced into broader financial markets.

He pointed out that the GENIUS Act's passage led to a 25% to 30% gain for companies like Coinbase, Circle, and Robinhood within seven to 14 trading days. Bitcoin moved less because the market had increasingly anticipated the outcome.