Joshua Riezman, Chief Legal and Strategy Officer at GSR, expressed skepticism about the Clarity Act's chances of passing in the current Congress, estimating the probability at below 50%. Speaking at Consensus Miami, Riezman highlighted that the bill is stalled in the Senate, with debates focusing on stablecoin yield generation and ethical issues related to the president's family's crypto involvement. Over 100 amendments are under review by the Senate Banking Committee.
This outlook contrasts with Coinbase's Chief Legal Officer Paul Grewal, who previously predicted the bill's passage this summer. Riezman warned that failure to pass the Clarity Act could negatively impact U.S. competitiveness and consumer protections.
GSR Legal Chief Sees Less Than 50% Chance for Clarity Act Passage
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