Grayscale research director Zach Pandl stated that even if Congress fails to pass the CLARITY Act this year, US cryptocurrency regulation can still advance in areas such as stablecoins, token issuance, tokenized securities, and perpetual futures. US President Trump signed the GENIUS Act on July 18, 2025, establishing a regulatory framework for the issuance of payment based stablecoins. The SEC proposes Regulation Crypto Assets, which would allow eligible projects to raise no more than $5 million within four years or $75 million every 12 months. The relevant exemptions and investment contract safe harbor are in the proposal stage, and the deadline for submitting public opinions is October 20th. The recent procedural milestone of the CLARITY Act is the termination debate vote on the motion to proceed on September 15th. Grayscale stated that the bill would help clarify the division of regulatory powers between the SEC and CFTC, but failure to pass it would not suspend ongoing regulatory measures. (Source: Bitcoin.com News)
