Tim Scott, the Republican senator from South Carolina who chairs the Senate Banking Committee, just put a number on what he thinks regulatory clarity is worth to the crypto industry: roughly $27 trillion.

Scott predicted that the total cryptocurrency market cap could surge from its current level of approximately $3 trillion to $30 trillion, provided Congress delivers the kind of clear regulatory framework that institutional investors have been waiting for. That’s a 10x multiplier, and the senator is betting it hinges on one thing: passing the legislation his committee just advanced.

The CLARITY Act moves forward

The vehicle for Scott’s optimism is the CLARITY Act, formally titled the Digital Asset Market Clarity…