The US crypto industry will survive and thrive even if the CLARITY Act fails to pass Congress. That is the view of Chris Perkins, CEO of 250 Digital Asset Management. Speaking on Cointelegraph’s Chain Reaction podcast on May 3, 2026, Perkins expressed confidence in the sector’s future. He pointed to ongoing work by top regulators.
CLARITY Act: Not a Make-or-Break for Crypto
Perkins said the industry will be “just fine” without the CLARITY Act. The proposed law aims to bring clearer rules for digital assets. But Perkins believes the US Securities and Exchange Commission (SEC) and the Commodities and Futures Trading Commission (CFTC) are already building workable frameworks.
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“If not, we’re going to be just fine,” Perkins said on the podcast. He emphasized that SEC Chair Paul Atkins and CFTC Chair Michael Selig are creating policy every day. Their joint interpretation from March 2026 clarified how federal securities laws apply to crypto assets.
This marks a shift from the past. Under former SEC Chair Gary Gensler, tokens labeled as securities faced enforcement actions and delistings. There was no clear path for compliance. Now, Perkins says, being a security is no longer a “death sentence.”
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A New Era for Security Tokens
“In the past, being a security was a death sentence; there was nowhere to go with it, and it just didn’t reconcile,” Perkins said. “Now it is awesome to be a security.”
The change is significant. Industry watchers note that regulatory clarity allows projects to plan long-term. It also attracts institutional investors who previously stayed away due to legal risks.
Why the CLARITY Act Still Matters
Perkins acknowledged that passing the CLARITY Act would lock in these gains. “What you’ve done is you’ve essentially enshrined policy for a very long time,” he said. “As hard as it is to pass a law, it is even harder to unwind a law.”
This suggests that the act would protect the industry from future policy reversals. A change in administration could otherwise roll back the current progress. Perkins added, “There is a reason why we say it takes an act of Congress to do something.”
Recent Developments Boost Hopes
Momentum for the CLARITY Act has grown. On May 2, 2026, US Senators Thom Tillis and Angela Alsobrooks published final text to settle a stablecoin yield dispute. This move resolved a key sticking point between the banking and crypto industries.
Coinbase chief legal officer Faryar Shirzad posted on X: “It’s time to get CLARITY done.” US Senator Bernie Moreno said he expects the act to pass by the end of May. Senator Cynthia Lummis called it “now or never” on April 11.
These statements signal strong political will. But Perkins remains cautious. He believes the industry’s future does not hinge on one piece of legislation.
What the CLARITY Act Would Do
The CLARITY Act aims to define which digital assets are securities and which are commodities. It would give the SEC and CFTC clearer jurisdictions. This would reduce legal battles and provide a stable regulatory environment.
- Clear definitions: The act would classify tokens based on their functionality and decentralization.
- Reduced enforcement: Clear rules would mean fewer lawsuits against crypto projects.
- Investor protection: Better oversight could prevent fraud and scams.
- Market growth: Institutional investors would have more confidence to enter the space.
Data from CoinMetrics shows that regulatory uncertainty has cost the US crypto market billions in lost investment. Many projects moved overseas due to unclear rules. The CLARITY Act could reverse this trend.
Industry Reactions
Reactions to the act have been mixed. Some executives welcome the clarity. Others worry about overregulation. Perkins sits in the middle. He sees the act as beneficial but not essential.
“These guys are creating policy and precedent every single day,” he said, referring to Atkins and Selig. “They are giving us the one thing we’ve needed for a very long time: that certainty, that stability, and ultimately, a taxonomy.”
The implication is that regulators are already doing the work. The CLARITY Act would just make it permanent.
Broader Context: Crypto Regulation in 2026
The push for the CLARITY Act comes amid a global regulatory shift. The European Union’s Markets in Crypto-Assets (MiCA) regulation took full effect in 2025. The UK and Singapore have also introduced clear frameworks.
In the US, the Biden administration took a tough stance. Enforcement actions under Gensler led to many crypto companies leaving the country. The current administration has taken a more collaborative approach.
Perkins noted that the SEC and CFTC are now working together. Their joint interpretation in March was a landmark moment. It showed that the two agencies can cooperate on crypto policy.
What This Means for Investors
For investors, the message is clear. The US crypto market is becoming more stable. Regulatory progress reduces the risk of sudden crackdowns. This could lead to higher valuations and more innovation.
But risks remain. If the CLARITY Act fails, a future administration could reverse the current policies. That is why Perkins supports the act, even if he believes the industry can survive without it.
Industry watchers note that the crypto market has shown resilience. Despite regulatory challenges, Bitcoin and Ethereum have continued to grow. The total market cap has exceeded $3 trillion in 2026.
Conclusion
The CLARITY Act is a significant piece of legislation for the US crypto industry. But Chris Perkins argues that the industry will be “just fine” without it. The SEC and CFTC are already providing the clarity and stability that the sector needs. Passing the act would lock in these gains for the long term. Either way, the crypto industry is moving forward.
FAQs
Q1: What is the CLARITY Act?
The CLARITY Act is a proposed US law that aims to define which digital assets are securities and which are commodities. It would give the SEC and CFTC clearer jurisdictions over crypto assets.
Q2: Why does Chris Perkins say the crypto industry will be fine without it?
Perkins believes that the SEC and CFTC are already creating workable frameworks through their daily policy decisions. He says the industry has the certainty and stability it needs.
Q3: What changed in crypto regulation under the current administration?
The SEC and CFTC have issued a joint interpretation on how federal securities laws apply to crypto assets. This has reduced the risk of tokens being labeled as securities without a clear path forward.
Q4: When might the CLARITY Act pass?
Senator Bernie Moreno expects the act to pass by the end of May 2026. Senator Cynthia Lummis has called it “now or never.”
Q5: How would the CLARITY Act affect crypto investors?
It would provide long-term regulatory stability, reducing the risk of future enforcement actions. This could attract more institutional investment and support market growth.
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