[Grayscale States U.S. Crypto Regulation Can Advance Without CLARITY Act] Odaily Planet Daily News – Zach Pandl, Head of Research at digital asset management company Grayscale, stated in an analysis on September 10 that even if Congress fails to pass the CLARITY Act this year, U.S. crypto regulation can still advance in areas such as stablecoins, token issuance, tokenized securities, and perpetual futures. On July 18, 2025, U.S. President Donald Trump signed the GENIUS Act, establishing a regulatory framework for payment stablecoin issuance. The act requires issuers to maintain full reserves, disclose reserve compositions monthly, and prohibits misleading claims that tokens are federally insured, backed by the U.S. government, or considered legal tender. The U.S. Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets, which aims to allow eligible projects to raise no more than $5 million within four years or no more than $75 million every 12 months. Related exemptions and safe harbor provisions for investment contracts are still in the proposal stage, with the public comment submission deadline set for October 20. The next procedural milestone for the CLARITY Act is a cloture vote on the motion to proceed, scheduled for September 15. This procedure requires 60 votes to pass and is not the final vote. Grayscale noted that while the act could help clarify the division of regulatory authority between the SEC and the Commodity Futures Trading Commission (CFTC), its failure to pass would not halt ongoing regulatory measures already in progress. (Bitcoin.com News)