GSR Legal Responsible Person: Clarity Act The probability of this Congress passing is less than 50%

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Deep Tide TechFlow News, May 14, according to The Block, GSR Chief Legal and Strategy Officer Joshua Riezman stated at Consensus Miami that the probability of the Clarity Act being passed and signed into law by the President during this congressional session is less than 50%. He pointed out that the bill is currently stalled in the Senate, with main disputes focusing on whether stablecoins can generate profits and ethical issues raised by the involvement of the President’s family in the crypto industry.

More than 100 related amendments have been submitted to the Senate Banking Committee for review. Previously, Coinbase Chief Legal Officer Paul Grewal publicly predicted that the bill would pass this summer, with clear differences in opinion between the two sides. Riezman also said that if the bill fails to pass this session, it will harm America’s competitiveness, and consumers and retail participants will also lose corresponding protections.

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