Zak Bundall, head of research at Grayscale, said the digital asset industry can continue to advance even if the CLARITY law is not passed this year. According to the BeInCrypto website, Bundall explained that the sector has operated for about 17 years without comprehensive rules to structure the U.S. market, and that the U.S. Securities and Exchange Commission and other regulatory bodies can close the gaps by setting rules, including those related to tokenized securities.
He said that the failure of the CLARITY project will not immediately affect the main blockchain backbones, or demand for Bitcoin as a store of value, or stablecoin payments. He also warned that some investments and developer activities could move abroad if the United States does not have clear laws at home.