Opinion: Even if the *CLARITY Act* Doesn’t Pass, the U.S. Crypto Industry Will Not Suffer Long-Term Impact

On May 3rd, Chris Perkins, CEO of 250 Digital Asset Management, stated that even if the U.S. Congress ultimately fails to pass the cryptocurrency market structure bill known as the "CLARITY Act," the long-term development of the U.S. crypto industry will not be a problem. Perkins noted that U.S. SEC Chair Paul Atkins and U.S. CFTC Chair Michael Selig are actively advancing the development of a crypto regulatory framework, delivering the long-awaited "certainty, stability, and classification system" the industry has sought. He noted that during former SEC Chair Gary Gensler’s tenure, being classified as a security was seen as a "death sentence" for crypto projects—but the market’s attitude toward security tokens has since shifted dramatically. Perkins also emphasized, however, that if the "CLARITY Act" is formally enacted, it will make it harder for future administrations to roll back the current regulatory framework, as "once a law is passed, it becomes far more difficult to repeal." Market expectations for the "CLARITY Act" to pass have grown recently. Coinbase Chief Legal Officer Faryar Shirzad said, "It’s time to get CLARITY legislation done," while U.S. Senator Bernie Moreno predicts the bill will be finalized by the end of May.