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John D\u2019Agostino made an appearance on CNBC on Friday. Source: CNBC<\/p>\nThe Digital Asset Market Clarity Act, or CLARITY Act, is moving along the right pathway, despite the crypto industry\u2019s growing impatience, according to a Coinbase executive. This act is crucial for the growth and regulation of the crypto industry in the United States.<\/p>\n
\u201cI completely understand why this is taking longer,\u201d Coinbase Institutional head of strategy John D\u2019Agostino said during an interview on CNBC on Friday. He emphasized that it makes sense for the process to take some time, given the complexity and foundational nature of the bill for the growth of crypto or any real asset class.<\/p>\n
Source: Cynthia Lummis<\/p>\n
He said that the CLARITY Act is a lot more complex than the Genius Act, the stablecoin legislation that was passed into US law in July. While he acknowledged the Genius Act was \u201cnot simple, but transformative,\u201d he said that it \u201cdealt with structurally simpler things than market structure bills.\u201d<\/p>\n
The CLARITY Act’s complexity is due to its focus on market structure, which is a more intricate aspect of financial regulation. This complexity is a key factor in the delay of its passage.<\/p>\n
It comes just weeks after White House AI and crypto czar David Sacks said that the CLARITY Act may receive the greenlight in January. \u201cWe are closer than ever to passing the landmark crypto market structure legislation that President Trump has called for. We look forward to finishing the job in January,\u201d he said on Dec. 19.<\/p>\n
John D\u2019Agostino made an appearance on CNBC on Friday. Source: CNBC<\/p>\n
D\u2019Agostino said he is confident that the CLARITY Act will pass soon, pointing to growing momentum for crypto regulation globally, including Europe\u2019s MiCA regulations and the United Arab Emirates\u2019 continued progress on regulatory clarity.<\/p>\n
He also acknowledged the \u201cmassive flight of talent\u201d from the US to other countries, which may only put more pressure on lawmakers to pass the CLARITY Act in 2026. \u201cPart of the rush to get Genius done was to stem that bleeding,\u201d he said.<\/p>\n
\u201cI think once we get back in session and everyone can take time to absorb what\u2019s happening, that same burning platform will appear where we really don\u2019t want the US to fall as behind as it\u2019s been on transformational technologies like artificial intelligence and blockchain,\u201d he added.<\/p>\n
CoinShares recently attributed $952 million in outflows from crypto investment products during the week ending Dec. 19 to delays in passing the CLARITY Act, citing prolonged \u201cregulatory uncertainty and concerns over whale selling.\u201d<\/p>\n
Meanwhile, veteran trader Peter Brandt said the potential passage of the US CLARITY Act is unlikely to have a significant impact on Bitcoin\u2019s price. \u201cIs it a world-shaking macro development? Nope. Needed for sure, but not something that should redefine value,\u201d Brandt told Cointelegraph.<\/p>\n