GSR legal chief puts Clarity Act passage below 50% odds, citing stablecoin yield and ethics concerns
GSR's legal chief estimates the Clarity Act has under a 50% chance of passing due to stablecoin yield and ethics issues.Summary
Joshua Riezman, chief legal and strategy officer at GSR, believes the Clarity Act has less than a 50% chance of passing in the current congressional session. He cited ongoing debates over stablecoin yield, particularly whether rewards can accrue on stablecoins, as a primary holdup in the Senate. Additionally, Riezman pointed to lingering concerns regarding the president and his family's involvement in the crypto industry as a further complication. Despite these challenges, bipartisan Senate staff have been working on a compromise. Riezman's assessment contrasts with optimism from figures like Coinbase CLO Paul Grewal. He also expressed a more bullish outlook on the long-term growth of tokenization, anticipating significant expansion in stablecoin and tokenized asset markets.
(Source：The Block)