Ric Edelman: 'Crypto industry needs compromise to pass the CLARITY Act'

JH Kim

Summary

Ric Edelman said the crypto industry needs compromise to pass the CLARITY Act.
He warned that if the bill does not pass before the midterms, Congress could enter a stalemate and the industry could lose regulatory clarity.
He advised investors to allocate up to 40% of their portfolios to digital assets and recommended a strategy focused on Bitcoin (BTC), Ethereum (ETH) and Solana (SOL).

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Ric Edelman, a prominent investor and chairman of the Digital Assets Council, said the crypto (digital asset) industry needs to compromise to secure passage of the market-structure bill known as the CLARITY Act.

According to crypto-focused outlet CoinDesk on the 10th (local time), Edelman said the debate over whether to allow interest payments on stablecoins is threatening the bill’s progress. He added that banks are likely to have the upper hand on this issue.

Edelman said, “Rather than risk losing overall regulatory clarity, the crypto industry needs to compromise to some extent.”

He also warned that if the bill does not pass before the midterm elections, Congress could fall into a prolonged stalemate.

Meanwhile, he assessed claims that quantum computers will threaten Bitcoin as unlikely, saying attackers would be more likely to target larger financial systems or infrastructure before Bitcoin (BTC).

Edelman advised investors to allocate up to 40% of their portfolios to digital assets and stressed an investment strategy centered on major assets such as Bitcoin, Ethereum (ETH) and Solana (SOL).