"US 'Clarity Act', major surgery changing market structure... Processing delay understandable"

There are claims that the legislative process for the Digital Asset Market Clarity Act (Clarity Act) is being delayed, and that this is an inevitable step given the complex work of laying the market's foundations.

On the 2nd (local time), John Dagostino, head of institutional strategy at Coinbase, told CNBC in an interview, "I fully understand why the Clarity Act is taking longer than expected," and evaluated, "This bill is the work of laying the groundwork for the growth of not only crypto assets but all real-world assets (RWA)."

Dagostino compared this bill to last July's stablecoin regulatory law, the 'Genius Act'. He said, "The Genius Act was also innovative but dealt with structurally simpler issues," and explained, "By contrast, the Clarity Act is a much more complex task of designing the entire market structure."

He added, "The level of talent leaving the U.S. for overseas is serious," and predicted, "When Congress reconvenes, there will be a consensus that the U.S. must not fall behind in innovative technology fields such as blockchain and artificial intelligence (AI), which will increase pressure to pass the bill."