In Brief
- Grayscale’s Zach Pandl says crypto can advance even without the CLARITY Act.
- He notes the industry ran 17 years without US market structure legislation.
- Grayscale expects SEC rulemaking to fill gaps, especially around tokenized securities.
Grayscale Head of Research says the crypto industry can keep moving forward even if the CLARITY Act, the bill that would set US rules for digital asset markets, fails to pass this year.
Zach Pandl said full passage looks unlikely in 2026, given the crowded Senate calendar and election-year politics.
Crypto Ran 17 Years Before the CLARITY Act
Pandl noted that digital assets operated for roughly 17 years without comprehensive US market structure rules. Progress, he said, can continue through…





