Crypto Can Move Without CLARITY – Can America Keep Up?

• Grayscale does not see CLARITY as essential to crypto’s continued growth.
• Without a federal framework, new U.S. investment could move elsewhere.
• Trump wants U.S. crypto leadership as rival jurisdictions set their own rules.
• The Senate faces its next CLARITY procedural test on September 15.

In a new research note, Grayscale Head of Research Zach Pandl argues that Bitcoin’s role as a store of value, established blockchain networks and stablecoin payments are unlikely to depend on whether CLARITY becomes law.

His warning instead centers on new investment and financial infrastructure, particularly businesses that need predictable rules before committing capital in a specific jurisdiction.

The Senate now has another chance to move CLARITY forward. Majority Leader John Thune has filed cloture on the motion to proceed to H.R. 3633, with the motion set to ripen at 2:15 p.m. on September 15.