Katz Quoted in Law360 on Prospects for Landmark Crypto Market Structure Bill

Manatt Financial Services Partner was quoted in Law360 on the political and policy hurdles facing the Clarity Act, a sweeping proposal to establish a federal regulatory framework for digital assets, as the Senate prepares to vote on its advancement.

In the article, Katz noted that while lawmakers have attempted to address concerns around ethics, stablecoins and developer protections, significant questions remain about whether the latest revisions can secure sufficient bipartisan support.

Regarding the bill's ethics provisions, Katz observed that the language addresses future digital asset issuance and direct holdings but leaves gaps around other arrangements. He also highlighted concerns from community banks about stablecoin-related incentives and suggested those issues could continue to complicate the bill's path forward.

More broadly, he emphasized that the Senate's upcoming procedural vote could prove pivotal, with limited time remaining in the congressional calendar to advance market structure legislation this year. “But with the House dropping session days later this month, the Senate heading into a state work period on October 5, and Election Day on November 3, a failed cloture vote is functionally the end of market structure for this Congress,” he said.

Read the full article in Law360 .