CLARITY Act Unlikely This Year, Grayscale’s Pandl Warns

A major piece of crypto market structure legislation is losing altitude fast.

Grayscale Head of Research Zach Pandl told investors that the CLARITY Act now has a low probability of passage this year, pinned down by a crowded Senate calendar and the tightening grip of election-year politics.

His downbeat assessment, shared via the original report, does not assume a straightforward disaster for digital assets. Instead, it draws a more complex map: while Bitcoin, major layer-1s, and stablecoin payments can keep growing without the bill, the absence of a unified U.S.

framework opens a door that competitors abroad are already watching.