- CLARITY Act delays signal deeper structural reforms rather than political resistance
- Crypto talent exits US as regulatory uncertainty pressures lawmakers
- Coinbase sees global competition accelerating US crypto legislation
Crypto policy debates in the United States continue to intensify as lawmakers work through complex digital asset legislation, and according to a Coinbase executive, delays around the CLARITY Act reflect strategy rather than political hesitation. During a recent CNBC appearance, Coinbase Institutional head of strategy John D’Agostino addressed growing industry impatience, saying the bill’s slow movement mirrors its importance to the long-term structure of crypto markets.
Rather than focusing on narrow policy gaps, the CLARITY Act tackles foundational issues across digital asset trading and oversight, and consequently, D’Agostino said lawmakers must take additional time to ensure the framework works across asset classes.
He explained that the act differs sharply from the Genius Act, which focused mainly on stablecoin regulation, and according to D’Agostino, market structure legislation introduces broader jurisdictional and compliance considerations.
Market structure complexity slows legislative speed
Although the Genius Act proved impactful, it dealt with fewer interconnected regulatory elements, hence he argued that comparing timelines between both bills creates unrealistic expectations. Support for the CLARITY Act remains visible within the current administration, and according to public statements, White House AI and crypto czar David Sacks signaled confidence in continued progress.
Additionally, Sacks emphasized alignment with President Donald Trump’s call for comprehensive crypto market structure reform, and that position has reinforced expectations that regulatory clarity remains a policy priority. However, international competition continues to reshape the debate, as according to D’Agostino, Europe’s MiCA framework and progress in the United Arab Emirates raise pressure on US lawmakers.
Talent migration adds urgency to US crypto regulation
Moreover, he highlighted a growing migration of crypto professionals away from the United States, and according to him, this talent shift reflects frustration over prolonged regulatory uncertainty. That movement, he said, risks weakening domestic leadership in blockchain innovation, and consequently, pressure may increase for lawmakers to finalize the CLARITY Act sooner.
Market data already reflects sensitivity to the delays, and according to CoinShares, crypto investment products saw $952m in outflows during one recent reporting week. The firm linked those withdrawals partly to uncertainty surrounding US crypto legislation, and significantly, regulatory ambiguity continues influencing institutional allocation decisions.
Still, not all market observers expect immediate price reactions, as according to veteran trader Peter Brandt, Bitcoin prices may remain largely unaffected by the bill’s passage. Even so, industry executives stress that clarity matters beyond short-term market moves, and according to D’Agostino, structured regulation could restore confidence and slow talent losses.
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