PANews reported on January 3 that, according to Cointelegraph, John D'Agostino, Head of Institutional Strategy at Coinbase, said in an interview with CNBC: "I completely understand why the Digital Asset Markets Transparency Act (CLARITY Act) is taking longer to pass."

John D'Agostino points out, "Frankly, it's foundational for the development of cryptocurrencies or any physical asset class." The CLARITY Act is far more complex than the Genius Act, the stablecoin bill passed in July of this year.