Opinion: Even if the CLARITY Act does not pass, the US cryptocurrency industry will not face long-term impact

BlockBeats News, May 3rd, 250 Digital Asset Management CEO Chris Perkins stated that even if the U.S. Congress ultimately does not pass the Crypto Market Structure Act, the U.S. crypto industry’s long-term development “will not have any issues.”

Perkins said that SEC Chairman Paul Atkins and CFTC Chairman Michael Selig are continuously promoting the construction of a crypto regulatory framework, bringing long-missing “certainty, stability, and classification systems” to the industry.

He pointed out that during former SEC Chairman Gary Gensler’s tenure, being classified as securities was considered a “death sentence” for crypto projects, but now the market’s attitude toward security tokens has significantly shifted. However, Perkins also emphasized that if the CLARITY Act is formally enacted into law, it will be more difficult for future governments to overturn the current regulatory framework because “once the law is passed, it will be even harder to revoke.”

Recently, market expectations for the passage of the CLARITY Act have continued to heat up. Coinbase Chief Legal Officer Faryar Shirzad said, “It’s time to complete CLARITY legislation”; U.S. Senator Bernie Moreno also expects the bill to be completed before the end of May.