The Digital Asset Market Clarity Act, also known as the CLARITY Act, is advancing according to schedule, despite growing impatience from the cryptocurrency sector.
John D’Agostino, Coinbase Institutional’s head of strategy, spoke on CNBC on Friday, acknowledging the delays.
“I completely understand why this is taking longer,” D’Agostino said.
He emphasized that the legislation is foundational for the development of crypto and other real asset classes, making a deliberate pace reasonable.
“It’s the kind of bill that is quite frankly more foundational for the growth of crypto or any real asset class,” he said.
D’Agostino compared the CLARITY Act to the Genius Act, the stablecoin law passed in July.
While the Genius Act was transformative, he noted it was structurally simpler than comprehensive market structure legislation.
“Massive flight of talent” could accelerate passage
The remarks follow White House AI and crypto czar David Sacks’ comment that the CLARITY Act might pass in January.
”We are closer than ever to passing the landmark crypto market structure legislation that President Trump has called for. We look forward to finishing the job in January,” Sacks said on Dec. 19.
D’Agostino expressed confidence in eventual approval, pointing to global momentum for crypto regulation, including Europe’s MiCA framework and regulatory developments in the UAE.
He highlighted the ongoing “massive flight of talent” from the US, which may pressure lawmakers to act faster.
“Part of the rush to get Genius done was to stem that bleeding,” he said.
D’Agostino added that the return of Congress in session could bring renewed urgency.
“I think once we get back in session and everyone can take time to absorb what’s happening, that same burning platform will appear where we really don’t want the US to fall as behind as it’s been on transformational technologies like artificial intelligence and blockchain,” he said.
Delays in the CLARITY Act have already affected the market.
CoinShares reported $952 million in outflows from crypto investment products in the week ending Dec. 19, citing prolonged regulatory uncertainty as a contributing factor.
Veteran trader Peter Brandt suggested the Act’s passage may not dramatically affect Bitcoin’s price.
“Is it a world-shaking macro development? Nope. Needed for sure, but not something that should redefine value,” Brandt told Cointelegraph.
The CLARITY Act represents a pivotal step in US crypto legislation, balancing industry expectations with the careful design required for long-term growth.
