Grayscale’s Zach Pandl says the CLARITY Act may not be the deciding factor for the future of U.S. crypto markets.

His view is that regulation is already moving forward through other channels, including stablecoins, tokenization and perpetual futures.

That suggests the U.S. crypto market may continue developing even while broader market-structure legislation remains uncertain.

CLARITY could still be important for creating a clearer framework, but progress in other areas is already shaping the regulatory landscape.

The bigger question is whether the U.S. can turn these separate developments into one clear, consistent framework for digital assets.

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